Interest / penalty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2011 What is the penalty / interest payable by the assessee for non compliance of mandatory epayment of service tax.
Will the penalty / interest be waived if the assesse produces documentary evidence that the above service tax has been deposited (bank callans and not mere receipt ack) within due date.

Thanking you in anticipation.

Amit Jolly

Amit Jolly (Expert)
Follow

03 August 2011 penanlty for late filing is rs. 20000/- (inn. earier it was rs. 2000/-(Max)

interst rate from 1st april.2011 is now 18% for late deposit of service tax

Regards

Pawan Agnihotry