Dear sir/M'aam,
if we filed ST-3 service tax return of April to Sept. 2010 dated 01.04.2012, what is penalty for late return fees. i have confusion with regard to 20000/-. please calrify it.
vishwam
(article trainee)
(82 Points)
Replied 05 September 2012
HI JYOTI
As per rule 7c of service tax rules,1994 late fee payable will be
For delay of 15 days penalty will be 500
For delay of morethan 15 and not by 30 days it will be 1000
For delay beyond 30 days it will be 1000 plus 100 per day subjected to a maximum of 20000 rupees
So you shoul have to pay 20000 as penalty
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 05 September 2012
Is it that if penalty is not paid before uploading the ST3, one cannot submit the same electronically. Can you please update me.Will the system accept the ST3 before paying the penalty and including the details of payment in the ST3.
Regards,
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 05 September 2012
Payment of the penalty is not a precondition for uploading return. Penalty is demanded later on.
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