Penalty u/s 76 or u/s 77
This query is : Resolved
07 August 2008
Dear Sir/Ma'am
I would like to know whether penalty is payable under section 76 as well as under section 77 for delay in payment of service tax within due date?
If not , can penalty be paid under any of these sections?
I would like to know whether penalty is payable under section 76 as well as under section 77 for delay in payment of service tax within due date?
If not , can penalty be paid under any of these sections?
08 August 2008
Yes, a penalty of Rs 200/- per day for the period of default, is payable u/s 76 along with the tax and interest @ 13% pa u/s 75.
08 August 2008
Yes, Prachi, penalty is payable.
You are right and I have modified the reply accordingly.
You are right and I have modified the reply accordingly.
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