filing of return

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
25 April 2011 what is the penalty for late filinf of service tax return?
whether it has increased from rs.2000 to rs.20,000??

25 April 2011 Penalty increased to Rs. 20,000/-

25 April 2011 The maximum penalty for delay in filing of return under Section 70, has been raised from Rs. 2000 to Rs. 20000. However, the existing rate of penalty for the first 15 days and for the subsequent 15 days as well as the daily penalty of Rs. 100 per day thereafter under rule 7C of the Service Tax Rules, 1994 are being retained without any change.
For details refer The Finance Act,2011.

Conclusion:- if service tax return is furnished after a delay of 40 Days then penalty is Rs. 20000





You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries