levy of tax

Querist : Anonymous (Querist) 02 January 2011 This query is : Resolved
Can Tax be levied on the unaccounted goods found in the business premises at the time of authorised inspection, since the incidence of tax under APVAT Act is
value addtion on sales.

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R.Ramachandran (Expert) 02 January 2011
Not only tax even penalty can be levied, unless the dealer concerned has proper explanation for the unaccounted stock.

s.subramanian (Expert) 02 January 2011
Yes. I agree with this view.

Raj Kumar Makkad (Expert) 02 January 2011
Ramachandran has properly explained the legal position in such matters.

H.M.Patnaik (Expert) 03 January 2011
Yes, well advised by experts.

Gulshan Tanwar (Expert) 08 January 2011
Agreed with Ld. Ramachandran.

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