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Service tax not paid from 2013 and filed return on nil

gupta (Accountant) (305 Points)

08 January 2016

Dear All,

In a proprietorship concern in the financial year 2013-14 only one bill raised but by mistake Service Tax not deposited where as it was charged in the bill and subsequently nil return also filed, now this is come to our notice.

Now my question is can we deposit the ST +Int +Pentalty now, and how to rectify the ST-3 as this was filed as nil return.

What is the interest and penalty figure when ST amount is 16430/-.

Thanks in advance.

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2 Replies

Nagendra Hegde (Chartered Accountant) (1948 Points)
Replied 09 January 2016

1. As far as revising the NIl return is concerned, it can not be done as 90 days have crossed from the date of filing origial return (Rule 7B of Service Tax Rules).

2. You can disclose the ST amount while filing the nexrt return (period Oct to Mar 2016) under the head 'arrears'

3. As far as interest is concerned, 18% is applicable untill 01.10.2014. thereafter slab is introduced and rates are as follows:

Upto 6 months of delay - 18%

Delay b/w 6 months to 1 year - 18% for first 6 months and then 24% for the remaining

Delay for more than 1 year - 18% for first 6 months, 24% for next six months and 30% for the balance.

4. As per Sec 73 (3) no penalty shall be imposed on payment of ST with interest before issue of notice. (self ascertainment). Accordingly you need not pay penalty