Rate of intt. & penalty for late filling of service tax ret.

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AMIT GOYAL (Querist)
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28 November 2013 Dear Sir

What is the Intt. & Penalty of Service Tax If We have not filed yet My Service Tax Return for the Period 01.10.2012 to 31.03.2013 & 01.04.2013 to 30.09.2013

What is Rule of 7c of late fieler of Service tax return

Annu Agarwal

Annu Agarwal (Expert)
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28 November 2013 As per rule 7C which deals with amount to be paid for delay in furnishing the prescribed return of the Service Tax Rules ,there is a penalty for late filing of service tax return.There is no interest payable on late filing only penalty.
For delay upto 15 days- Rs 500/-
Beyond 15 days upto 30 days- Rs 1000/-
Beyond 30 days-Rs 1000/ Plus Rs 100 for every day beyond 30 days

The total amount of penalty shall not exceed Rs 20,000 as specified in Section 70.

in your case
For 01.10.2012-31.03.2013,due date-31.08.2013,delay till date i.e as on 28/11/2013=89 days,penalty payable=1000+59*100=1000+5900=Rs 6900

For 01.04.2013-30.09.2013,due date-25.10.2013,delay tii date i.e. as on 28/11/2013= 34 days,penalty=1000+4*100=1000+400=1400