What is the penalty for late filing of returns under mvat vat act?

Under the Maharashtra Value Added Tax (MVAT) Act, the penalty for late filing of returns is typically a fine of up to Rs. 5,000, depending on the circumstances and duration of the delay. Additionally, interest may be charged on the outstanding tax due for the period of delay. It's important to note that repeated late filings can lead to increased penalties and legal consequences. Always consult the latest regulations or a tax professional for specific situations.