13 April 2009
We are paying service tax thro using input credit available. While filing ST-3 Return I have reported gross receipts as inclusive of Service tax amount and calculate service tax on total receipt and file the return for the last 1 year. Is there any way to file revised return now?
I have paid thro Input service tax credit and utilised that credit in excess.
Say my invoice value is 12500 (Tax 2500) I have shown after receipt from the client and pay tax on Rs.12500 X 12.5%.
14 April 2009
Rule 7B provides for filing of revised return within 60 days.
In your case the period has lapsed, there Is a penalty of Rs. 2000/-
If return of Service tax is not filed within prescribed period. Penalty is leviable under section 77, which can be upto Rs. 2,000. The penalty can be waived u/s 80, if assessee proves that failure was due to reasonable cause. If assessee is providing more than one service, there is only one penalty for delay in filing return and not separate penalties for each taxable service
CAclubindia
