Penalties
This query is : Resolved
14 November 2013
please tell me the penalties levied under ST (all interests and penalties)
14 November 2013
penalty under sec. 76 (failure to pay tax - Rs.100 per day or 1% of service tax max. 50% of tax)
Penalty u/s 70 (for belated filing of ST-03 return Rs.500 for first 15-30 days Rs.1000 for next 30 days and max Rs.20000
Penalty u/s 77 Failure to take registration in time Rs.200 per day or max Rs.10000
failure to maintain books, not paying taxes electronically, any other contravention u/s 77 Rs.10000 for each default.
Penalty u/s 70 (for belated filing of ST-03 return Rs.500 for first 15-30 days Rs.1000 for next 30 days and max Rs.20000
Penalty u/s 77 Failure to take registration in time Rs.200 per day or max Rs.10000
failure to maintain books, not paying taxes electronically, any other contravention u/s 77 Rs.10000 for each default.
Message likes :
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Nikhil Kaushik
(Expert)
15 November 2013
penalty under Section 70 is levied if the assessee doesn't filed service tax return within the due date.
For delay upto 15 days : Rs 500
For delay between 15-30 days: Rs 1000
For delay in excess of 30 days: Rs 1000 plus Rs 100 each day (starting from 31 days) till the date return is filed with maximum penalty of Rs 20000.
For delay upto 15 days : Rs 500
For delay between 15-30 days: Rs 1000
For delay in excess of 30 days: Rs 1000 plus Rs 100 each day (starting from 31 days) till the date return is filed with maximum penalty of Rs 20000.
CA BHARATH KUMAR
(Expert)
18 November 2013
yes i also agree with nikhil
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