What kind of fine can be impose in case proper bills are not available

What kind of panalties or fine can be impose in case proper bills/doments are not available. I have a small grocery store. My daily buisness range from 4-8k avg. I was given a notice today to produce all my finacials and books by next week, I dont own any property. My problem is I dont have the original purchase bill older then 6 months available with me. I do have sales bill and the records of purchase in form of excel sheet for last two years which have the purchase bill nos and details. They have asked for 5 year records. What can be done now as I have dont have the purchase bills.

Answers (1)

111 votes

You are kindly requested to specify the authority from which you have received the communication alongwith the revant provision of law. Not maintaining records entails penalty under varioous tax laws such as Income Tax, DVAT, Central Sales Tax, Service Tax, etc. Your query doesnt provide sufficient details for us to render a precise reply.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Tax Lawyers

Advocate Bala Janaki
330 Thambuchetty Street, Chennai
35 years Experience
Advocate Rajeev Nigam
Kanpur Nagar, Kanpur
26 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
12 years Experience
Advocate Manish G Varma
Fort, Mumbai
18 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Tax Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.

Related Questions

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."