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Service Tax Penalty

Bijoy (Working ) (127 Points)

12 March 2011

Hi,

Kindly tell me how tp pay the penalty For the late filing of half yearly service tax return.

Thnks

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7 Replies

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

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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

Heads of Account under the Major Head “0044-Service Tax” in respect of the new taxable services have been allotted by the Office of the Principal Chief Controller of Accounts, CBEC.
Accounting Codes for the purpose of payment of service tax are as follows:

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