Free Press Journal

Symposium on interest and penalty held

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Indore: A symposium was held on MPVAT Act’s interest and penalty under the joint aegis of Tax Practitioners’ Association Indore and Indore CA Branch. Chief Guest on the occasion was Associate Editor of Sales Tax Judgements CA P H Motlani.

Association’s public relations chief CA Swanil Jain said that the programme was inaugurated with Saraswati Vandana. Welcome speech and vote of thanks was delivered by Tax Practitioners’ Association Indore president CA Hitesh Mehta while commercial tax secretary Vikram Gupte conducted the programme.

It was discussed during the symposium that penalty cannot be imposed on additional demands under section 18 ( 4).If amount more than interest is deposited then penalty will not be applicable.Several other important discussions regarding tax and penalty were held and their main points were shared with the audience.