Hi,
Kindly tell me how tp pay the penalty For the late filing of half yearly service tax return.
Thnks
Pankaj Arora
(Learner)
(3134 Points)
Replied 12 March 2011
Sl. 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 |
Bijoy
(Working )
(127 Points)
Replied 12 March 2011
Hi,
I wanna know how to pay the penalty.
Eg. Through GAR 7, or having seperate challan to pay the Penalty, and what is the code of penalty etc etc........
Thanks
Pankaj Arora
(Learner)
(3134 Points)
Replied 12 March 2011
Accounting Codes for the taxable services introduced vide the Finance (No. 14) Act, 2010
Circular No. 124/6/2010-TRU, dated 29-6-2010
Note: A. The sub-head “other receipts” is meant for interest, penalty leviable on delayed payment of service tax
B. The sub-head “deduct refunds” is not to be used by the assessees, as it is meant for the Revenue/Commissionerates while allowing refund of tax
C. Primary education cess on all taxable services will be booked under 00440298 and Secondary Higher Education Cess will be booked under 00440426
D. If NSDL have issued any dummy codes for revenue collection and interest/penalty for the above eight services, all these dummy codes should be treated as void and may be replaced by the correct account codes as stated above
Read more: SERVICE TAX ACCOUNTING CODES NEW SERVICES WEF 01.07.2010 | SIMPLE TAX INDIA-TDS RATE INCOME TAX RATE
Bijoy
(Working )
(127 Points)
Replied 12 March 2011
But the payment of penalty shoud be made through GAR7 or what?
Bijoy
(Working )
(127 Points)
Replied 12 March 2011
Appreciate for the fast response from ur side. Thank you for that.
One more question-
And what will be the code for that?
Pankaj Arora
(Learner)
(3134 Points)
Replied 12 March 2011
all accounting code will be on back side of challan....
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