Any person who fails to issue an invoice when required under this act he shall pay a penalty of:

A. Rs.5,000/-

B. 3% of the amount of tax involved

C. A & B whichever is higher

D. None of these

Detail:

Any person who fails to issue an invoice when required under this Act. Such person shall pay a penalty of five thousand rupees (Rs 5,000) or three per cent (3%) of the amount of the tax involved, whichever is higher.

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