30 December 2015
For simple late payment does not attract Penalty. However any non-payment is detected by Department then a penalty not exceeding ten per cent of the amount of such service tax is leviable u/s 76 of Finance Act 1994. Read Section 76, 77 and 78 you'll be able to take decision. The act is available at goo.gl/yWqAHh. Feel free to ask further.
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