Section 87(2) in Daman and Diu Value Added Tax Regulation, 2005
(2)If a person is liable to pay a penalty under sub-section (11) of section 86, and the person voluntarily discloses in writing to the Commissioner the tax deficiency,-(a)the amount of the penalty leviable under this Regulation shall be reduced by eighty per cent. of such penalty if such disclosure is made before the Commissioner issues the notice under section 58 for conducting of the audit of the business affairs of such person;(b)the amount of the penalty leviable under this Regulation shall be reduced by fifty per cent. of such penalty if such disclosure is made after the Commissioner has issued the notice under section 58 for conducting of the audit of the business affairs of such person.
