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Asked by namish on :Jul. 19, 2018

I am a composition dealer, and I have made a defa…

I am a composition dealer, and I have made a default in paying my taxes. Should I pay any penalties?

I am a composition dealer, and I have made a default in paying my taxes. Should I pay any penalties?

0

Chiranjibi Jul. 19, 2018

Yes, You shall be liable to pay all the taxes which he would have paid under normal scheme.

Also, you will be liable to pay a penalty equivalent to an amount of such tax payable.

However, a show cause notice will be sent to you before levying such penalties. So, I would recommend you to wait for this notice before paying penalties on this regard.

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