20 July 2012
hi i have not filed service tax returns for the past 10 years now i want to do so in order to claim service tax benefit. what is the time limit for filing delayed returns? can i file it anytime in life time without time boundations?
20 July 2012
Filing of return within the prescribed time limit is compulsory, even if it may be a nil return, failing which penal action is attracted.
Mandatory Penalty for Late filing of ST-3 Return under Rule 7C of Service Tax Rules, 1994 (Section 70 of the Act) Sr.No. Period of Delay from the prescribed date Penalty 1 15 days Rs.500/- 2 Beyond 15 days but not later than 30 days Rs.1000/- 3 Beyond 30 days Rs.1000/- plus Rs. 100/- for every day from the thirty first day till the date of furnishing the said return (not exceeding Rs.20000)
20 July 2012
No time boundation to file service tax returns. But belated filing attracts late filing fee, as per rule 7C of service tax rules 1994, up to a maximum of Rs,20,000/- per return.
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