There were certain ammendments regarding the oenalty provisions of Service Tax, where the maximum limit of penalty has been revised to Rs. 20,000 from Rs. 2,000.
I am filing the half yearly returns of a firm for FY 2009-10 and FY 2010-2011 now, in FY 2011-12, when the new penalty provisions have been put nto effect.
My query is will the ammendments in the penalty provisions be applicable on the returns of previous years being filed now or do we go by the earlier provisions. i.e Do I have to pay Rs. 20,000 as penalty or Rs.2000 as penalty
An early reply will be appreciated as the matter is quite urgent.
CAclubindia
