LATE FEE FOR TAX DEPOSIT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2010
Dear Sir,
What penellty applicable if i have not deposit my last quarter service tax before 31.03.2010.
Rakesh
What penellty applicable if i have not deposit my last quarter service tax before 31.03.2010.
Rakesh
31 March 2010
Penalty is at the discretion of the assessing officer .... however u are supposed to pay interest @13% P.a
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2010
Sir,
I think 100 or 200 per day. this is correct or not please confirm me
I think 100 or 200 per day. this is correct or not please confirm me
31 March 2010
Section76. Penalty for failure to pay service tax:-
Any person, liable to pay service tax in accordance with the provisions of section 68 or the rules made under this Chapter, who fails to pay such tax, shall pay, in addition to such tax and the interest on that tax amount in accordance with the provisions of section 75, a penalty which shall not be less than two hundred rupees for every day during which such failure continues or at the rate of two per cent of such tax, per month, whichever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax.
Any person, liable to pay service tax in accordance with the provisions of section 68 or the rules made under this Chapter, who fails to pay such tax, shall pay, in addition to such tax and the interest on that tax amount in accordance with the provisions of section 75, a penalty which shall not be less than two hundred rupees for every day during which such failure continues or at the rate of two per cent of such tax, per month, whichever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax.
31 March 2010
Agree with Mr.Chackrapani warrier
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