Panelty of Late filling of Return

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Namrata (Querist)
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27 March 2011 Dear Sir,
Plz ask the Panelty of service tax return for the next month return.
Send this query answer of my e-mail id: namrata_sharma3107@rediffmail.com
Tanking You

s v rajesh

s v rajesh (Expert)
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28 March 2011 Hi,

IF you are not filing ST - 3 return in time i.e 25th of April
As per Rule 7C -
15 days from the due date - Rs.500
15 days to 30days - Rs.1000
Beyond 30 days of due date - Rs.1000+100for every day but maximum of Rs.2000/-

Dayal

Dayal (Expert)
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28 March 2011 hi,

It is understood that you have delayed the Monthly payment of service tax

There are no monthly returns under the act

Returns are to be filed Half Yearly as under

April to Sept by Oct 25th

Oct to March by April 25th

Non-filing / delayed filing of returns: A mandatory penalty has been prescribed under Rule 7C of the Service Tax Rules, 1994, as also an amount not exceeding Five Thousand Rupees could be imposed as penalty under sec 77 of the Act.

If you have delayed the payment of service tax for a period then you can pay the same with interest @ 13%

If there is Non payment or delayed payment of service tax- A mandatory penalty, not less than Rs.200/- for every day during which such failure continues or @2% of such tax per month, whichever is higher, shall be imposed by the adjudicating authority. However, the penalty amount payable shall not exceed the amount of service tax payable. [Section 76 of the Act]

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 March 2011 Pl note that interest rate is increased to 18% w.e.f 01/04/2011 as per notification 15/2011 dates 01/03/2011.

Ajay Raghatate

Ajay Raghatate (Expert)
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28 March 2011 Dear Sir,
As per the Finance Bill 2001, Penalty for Delay ST-3 Return is increased from 2000 to 20000,
Finance bill passed with this amendment,Plz clarify .

"4.4 The maximum penalty for delay in filing of return under section 70 is proposed to
be increased from 2,000/- to 20,000/-. However, the existing rate of penalty is
being retained under rule 7C of the Service Tax Rules, 1994. The maximum penalty is
presently reached after a delay of 40 days. The new limit will impact only those who delay
filing of return for longer durations."
Thanks