Section 86(13) A person fails to prepared required records and accounts or fails to prepare it in proper manner or fails to retain record for prescribed period: Penalty u/s 86(13)
Penalty Under Section 86(13) of Delhi Value Added Tax Act
Default
Where a person
(i) fails to prepare the required records and accounts; or
(ii) fails to prepare records and accounts in prescribed manner;
or
(ii) fails to retain the records and accounts for the prescribed
period
Amount of Penalty
Rs. 50,000/- or 20% of the tax deficiency, if any whichever is
greater.
Maximum Amount of Penalty Rs. 50,000/- or 20% of the tax
deficiency, if any whichever is greater.
Penalties for various defaults under Delhi Value Added Tax (DVAT) Act
Section 86(12) Where a tax deficiency arises: Penalty u/s 86(12)
Section 86(15) Prepares records and accounts i.e. false misleading or deceptive
Section 86(20) Statement to the commissioner: False, misleading, deceptive, omits statements
Section 86(22) A casual failed to furnish return or other document with return in the due date