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Penalty u/s 76 or u/s 77

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(Querist)
07 August 2008 Dear Sir/Ma'am

I would like to know whether penalty is payable under section 76 as well as under section 77 for delay in payment of service tax within due date?

If not , can penalty be paid under any of these sections?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
08 August 2008 Yes, a penalty of Rs 200/- per day for the period of default, is payable u/s 76 along with the tax and interest @ 13% pa u/s 75.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
08 August 2008 Yes, Prachi, penalty is payable.

You are right and I have modified the reply accordingly.
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