Regarding penalty on non payment of service tax
This query is : Resolved
19 December 2012
what is interest and penalty for late payment of service TAx.
please suggest me on priority basis.
Regards,
Munna singh.
please suggest me on priority basis.
Regards,
Munna singh.
19 December 2012
Rate - 18% (15% if turnover during previous financial year is upto Rs. 60 Lakhs). duration - from due date to actual date of payment..
19 December 2012
In addition to interest @ 18% or 15% you will have to pay a penalty under section 76 which will be----
Rs 100 per day or 1% per month of such tax , whichever is higher.
But such penalty shall not exceed 50% of the amount of service tax.
Rs 100 per day or 1% per month of such tax , whichever is higher.
But such penalty shall not exceed 50% of the amount of service tax.
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