Is there any penalty dealy payment of service tax

This query is : Resolved

Devaraja H.P (Querist)
Follow

29 March 2009 Sir,
Can you give information about is there any penality for dealy payment of service tax if assessee is other than company

Dayal

Dayal (Expert)
Follow

29 March 2009 Penalty is 2% per month

Penalty is extendable to 100% of the defaulted amount, if detected by the authorities and SCN is issued in this regard.

Interest is 13% pa on the delayed payment.

C A GROUP COACHING

C A GROUP COACHING (Expert)
Follow

29 March 2009 Penalty comes in force if any concealment is detected. In your case If there is a sipmle delay in payment of collected / established dues then Interest @ 13% PA will be applicable, How ever if you have not filed your returns due to non payment of service tax the penalty there is 100/- Per day for first 30days of delay & then Rs 1000/- Max for further delay.

Chandrakant Ambani
Bombay
9819408963
9821240674

Upgrade to CAclubindia Pro. Subscribe Now!