Valerian Dsouza (Manager Audit & Taxation) (413 Points)
19 October 2013In the last financial year, A Company had no business and no service tax was payable!
But the Company didn't file NIL Service tax returns also! Prior to that Company was filing returns promptly!
In such case whether LATE FILING FEES or FINE is payable by the Company ?
or Is their any legal way Company can save from the burden of fine now?
Thanks & Regards for your valued support!
Mir Irshad Ali
(Partner)
(192 Points)
Replied 06 January 2014
As per Rule 7C of Service Tax Rules, 1994, the Central Excise Officer is empowered to reduce or waive the Penalty/Late fee for non-filing of ST-3 returns where the Tax liability is NIL.
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