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Service tax registration

Khem Raj Pandey (Audit Assistant) (26 Points)

29 December 2013

Hi,

One of the assessee have provided service amounting to 15 Lakh upto Nov, 2013 for FY 2013-14. We have already applied for registration in the month of Dec, 2013. Can any body tell me regarding the following changes & penalty to be levied.

1. Late registration Penalty

2. Penalty for Late payment of service tax on Rs 5 Lakh. (Which exceeds Rs 10 Lakh)

3. Shall we need to pay the service tax on this Rs 5 Lakh or not?.

4. Is there will be any late return changes?.

5. Is there any ways these penalties can be waived.

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1 Replies

Riddham (Practising Indirect tax consultant) (29 Points)
Replied 29 December 2013

Dear prof. collegue,

First late registration fee is per day 100 Rs. from the date of turnover cross 9 lakhs and upto maximum penalty is 20000 rs. so its depends at which time ur t/o exceeds 9 lakh.

Penalty is not for late payment of service tax interest is charge @ 18% p.a.

Yes, it is mendetory for u to pay tax on Rs. 5 lakh

Yes, late return charges is upto first 15 days 500, upto 1 month 1000 and afterwards 100 Rs. per day

There is no way to waive this penalty