Saturday, 18 January 2014

Failure to spot clerical errors in filing of return isn't a valid excuse to seek waiver of penalty

CST & VAT : Though errors of omission/commission are clerical errors and they may not be deliberate, but, when they are huge, they must be picked up at time when tax return is signed and submitted; failure in that behalf would attract penalty, as such errors do not constitute 'reasonable excuse'


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