Interest and penality late st3 return filling -reg
This query is : Resolved
17 January 2016
DEAR SIR /MADAM,
WE HAVE NOT RECEIPT OUR PAYMENTS FROM OUR CLIENTS AGAINST OUR BILLS FOR THE PERIOD OF 1-9-14 TO 31-12-15, OUR CO. IS PROPRIETORSHIP. SO WE HAVE NOT FILED THE RETURNS. PLEASE TELL US THE PROCEDURES
WE HAVE NOT RECEIPT OUR PAYMENTS FROM OUR CLIENTS AGAINST OUR BILLS FOR THE PERIOD OF 1-9-14 TO 31-12-15, OUR CO. IS PROPRIETORSHIP. SO WE HAVE NOT FILED THE RETURNS. PLEASE TELL US THE PROCEDURES
17 January 2016
ST 3 ...Filed twice in a year...25th of the month subsequent to the end of six months...
Tax liability due date by 6th of the month subsequent to the end of the respective quarter...
ok
Tax liability due date by 6th of the month subsequent to the end of the respective quarter...
ok
17 January 2016
The Service Tax needs to be paid on Accrual basis that is on raising of invoice or receipt of advance which ever is earlier.
The exception is that where value of taxable services in previous year were less than Rs 50 lakhs, service tax can be paid on receipt basis (i.e. cash basis) instead of accrual basis.
So pay Service Tax and file ST3 return. Even if there is no tax Nil Return needs to be filed.
The exception is that where value of taxable services in previous year were less than Rs 50 lakhs, service tax can be paid on receipt basis (i.e. cash basis) instead of accrual basis.
So pay Service Tax and file ST3 return. Even if there is no tax Nil Return needs to be filed.
17 January 2016
Penalty for Delay in filing Service Tax Return
# Delay of first 15 days then penalty will be Rs. 500
# Delay of 15 to 30 days then penalty will be Rs. 1000
# Delay is more than 30 days then penalty will be Rs 1000+100 Rs. per day beyond 30 days, Subject to maximum penalty can be Rs. 20000/-
# Delay of first 15 days then penalty will be Rs. 500
# Delay of 15 to 30 days then penalty will be Rs. 1000
# Delay is more than 30 days then penalty will be Rs 1000+100 Rs. per day beyond 30 days, Subject to maximum penalty can be Rs. 20000/-
17 January 2016
Also Note:
No penalty for late filing of Nil return. Citation: M/s SUCHAK MARKETING PVT LTD VERSUS COMMISSIONER OF SERVICE TAX, KOLKATA (2013 (6) TMI 641 - CESTAT KOLKATA) Penalty for late filing of Nil return - Held that:- in view of the Boards Circular No.97/8/07-ST dated 23.08.2007, in the event, no service is rendered by the service provider, there is no requirement to file ST-3 Returns. - there is nothing contrary to that circular - as per Rule 7C of the Service Tax Rules, in the event, nil returns are filed, the assessing officer had the discretion to waive the late fees for filing the ST-3 Returns. In my view, it is a fit case to invoke the proviso to Rule 7C and waive the late fees relating to the nil returns filed by the appellant during the period April, 2005 to March, 2008. - Penalty dropped.
No penalty for late filing of Nil return. Citation: M/s SUCHAK MARKETING PVT LTD VERSUS COMMISSIONER OF SERVICE TAX, KOLKATA (2013 (6) TMI 641 - CESTAT KOLKATA) Penalty for late filing of Nil return - Held that:- in view of the Boards Circular No.97/8/07-ST dated 23.08.2007, in the event, no service is rendered by the service provider, there is no requirement to file ST-3 Returns. - there is nothing contrary to that circular - as per Rule 7C of the Service Tax Rules, in the event, nil returns are filed, the assessing officer had the discretion to waive the late fees for filing the ST-3 Returns. In my view, it is a fit case to invoke the proviso to Rule 7C and waive the late fees relating to the nil returns filed by the appellant during the period April, 2005 to March, 2008. - Penalty dropped.
17 January 2016
dear sir,
before filling the st3 we have to pay penalty for late filling
before filling the st3 we have to pay penalty for late filling
17 January 2016
Yes. File ST3 return after paying all the taxes and penalties. There is a declaration in the ST3 return which states that assessee has made payment of all taxes and penalties if applicable.
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