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Service tax late fees

Amod Ranjan (Service) (356 Points)

12 November 2009

please let me know how much late fine of service tax return and date!!

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3 Replies

Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14497 Points)
Replied 12 November 2009

The service tax law recently introduced a provision whereby a late payment fee has been prescribed for delayed filing of returns. The fee for delayed filing of a return up to 30 days from the prescribed date of filing return—for the half year ending September 30, the return is to be filed by October 25—is Rs 1,000 and beyond such period is Rs 100 per day subject to a maximum levy of Rs 2,000. The delay in filing the half-yearly returns in your case is beyond 60 days. Hence, you would be liable to pay the maximum penalty of Rs 2,000.

However service tax return half yearly date is 25 Oct. and 25 April.

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G.SARAVANA KANNAN (MANAGER FINANCE & ACCOUNTS ) (241 Points)
Replied 13 November 2009

Hi, you can get overall view of service tax from the following link..

https://www.dateyvs.com/service01.htm

EKALABYA TALUKDAR (SERVICE TAX CONSULTANT) (666 Points)
Replied 13 November 2009

PLEASE GO THROUT THE FOLLOWINT LINK

https://servicetax.gov.in/st-rules.htm

Service Tax Rules, 1994

[(7C). Amount to be paid for delay in furnishing the prescribed 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 that the total amount payable in terms of this rule, for delayed submission of return, shall not exceed the amount specified in section 70 of the Act:

Provided further that where the assessee has paid the amount as prescribed under this rule for delayed submission of return, the proceedings, if any, in respect of such delayed submission of return shall be deemed to be concluded.

[ Provided also that where the gross amount of service tax payable is nil, the Central Excise officer may, on being satisfied that there is sufficient reason for not filing the return, reduce or waive the penalty.]²¹

Explanation.- It is hereby declared that any pending proceedings under section 77 for delayed submission or non-submission of return that has been initiated before the date on which the Finance Bill, 2007 receives the assent of the President, shall also be deemed to be concluded if the amount specified for delay in furnishing the return is paid by the assessee within sixty days from the date of assent to the said Finance Bill.]¹²