If we not amend ST1 within stipulated time period, is there any penalty ?
Time period for change of address
Satheesh (CMA & CA Final) (189 Points)
26 December 2012
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 26 December 2012
I have replied to your message through PM link after your message reached my inbox.
Regards,
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 26 December 2012
I am reproducing the answer given to Satheesh for view of everybody and invite comments on the matter.
The Service Tax Rules do not quantify an penalty as such. Check if Finance Act 1994 contain any stipulation.
In practice, minor delay may not be treated as non compliance. Also, the nature of amendment is important. Like change of address and addition of a new service, both requiring amendment are different and have different implications.
Regards,
CMA RAVI
(ASSISTANT MANGER - FINANCE)
(478 Points)
Replied 26 December 2012
no penalty as such covered under service tax rules
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