Penalty for non filing of s.t. returns for 2008-09 & 2009-10
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2013
how much penalty is payable for non filing of service tax returns for the period 2008-09 & 2009-10. service tax payments for the same was already paid.
07 August 2013
Penalty for filing ST Return Delay more than 30days is Rs. 20000/-
07 August 2013
Rule 7C Prescribe the Penalty which Assessee has to Pay if there is delay in filing of service Tax
Return.
Where the return prescribed under rule 7 is furnished after the date prescribed for submission of such
return, the person liable to furnish the said return shall pay to the credit of the Central Government, for
the period of delay of-
(i) fifteen days from the date prescribed for submission of such return, an amount of five hundred
rupees;
(ii) beyond fifteen days but not later than thirty days from the date prescribed for submission of such
return, an amount of one thousand rupees; and
(iii) beyond thirty days from the date prescribed for submission of such return an amount of
one thousand rupees plus one hundred rupees for every day from the thirty first day till the date
of furnishing the said return:
Provided the total amount payable in terms of this rule shall not exceed the amount specified in
Sec.70 of the Act.
It is clear from the above that above penalty is subject to maximum specified in section 70. Section
70(1) Specify the maximum Penalty of Rs. 2,000/- in respect of return filed up to 31st March 2011.
This amount of Maximum Penalty is been increased to Rs. 20,000/- (Twenty Thousand only) w.e.f.
01.04.2011.
As per Section 71 (C) of the Finance Act 2011 (8 of 2011) Applicable from 1st April Unless Otherwise
specified there was an amendment in Sub Section (1) of section 70 which is as follows:-
‘in Section 70 (1) of the Finance Act, 1994, for the words “two thousand rupees”, the words
“twenty thousand rupees” shall be substituted’.
After Considering the above amendment the Maximum Penalty for Late Filing of Service Tax Return is
been increased to 20000/- (Twenty Thousand) w.e.f. 01.04.2011 from earlier 2000/- (Two Thousand).
After enactment of Finance Bill 2011, the following position will emerge out:
Return.
Where the return prescribed under rule 7 is furnished after the date prescribed for submission of such
return, the person liable to furnish the said return shall pay to the credit of the Central Government, for
the period of delay of-
(i) fifteen days from the date prescribed for submission of such return, an amount of five hundred
rupees;
(ii) beyond fifteen days but not later than thirty days from the date prescribed for submission of such
return, an amount of one thousand rupees; and
(iii) beyond thirty days from the date prescribed for submission of such return an amount of
one thousand rupees plus one hundred rupees for every day from the thirty first day till the date
of furnishing the said return:
Provided the total amount payable in terms of this rule shall not exceed the amount specified in
Sec.70 of the Act.
It is clear from the above that above penalty is subject to maximum specified in section 70. Section
70(1) Specify the maximum Penalty of Rs. 2,000/- in respect of return filed up to 31st March 2011.
This amount of Maximum Penalty is been increased to Rs. 20,000/- (Twenty Thousand only) w.e.f.
01.04.2011.
As per Section 71 (C) of the Finance Act 2011 (8 of 2011) Applicable from 1st April Unless Otherwise
specified there was an amendment in Sub Section (1) of section 70 which is as follows:-
‘in Section 70 (1) of the Finance Act, 1994, for the words “two thousand rupees”, the words
“twenty thousand rupees” shall be substituted’.
After Considering the above amendment the Maximum Penalty for Late Filing of Service Tax Return is
been increased to 20000/- (Twenty Thousand) w.e.f. 01.04.2011 from earlier 2000/- (Two Thousand).
After enactment of Finance Bill 2011, the following position will emerge out:
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2013
can i take VCES benefit for the same ?
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