Late fee

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2016 Dear Sir,
I need to deposit late fee before filing st-3. Now I have a query that late fee should be deposit in the code of penalty or in the code of other receipts (interes) , as there is no specific code for the late fee.

Please advise me.
Its urgent.

Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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24 January 2016 The Late Fee is not a penalty. It is only further interest and therefore the same should be paid under the accounting code Interest & Other Receipts.

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2016 If assessee is registered more than one service category and has worked in all of them, then which category to be select for depositing late fee?

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Suresh Ramaswamy

Suresh Ramaswamy (Expert)
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02 February 2016 The Late Fee is payable only for the ST- 3 Return and not the service, hence the same can be paid under any of the registered service head.