Late fee

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2015 Dear Sir,
Service Tax payable for the 2nd half yearly return of fy 2014-15 is only Rs. 3280/-. Please clarify how much late fee that assessee has to paid if he files his return on 12/07/2015. Whether the late fee can exceed the tax amount?

Please reply soon.

Arun Kumar Singh

Arun Kumar Singh (Expert)
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11 August 2015 The interest can be exceed from basic duty if it will not paid on time. Within 6 month interest can be imposed 18% and after another 6 month 24% and after one year 30%.

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2015 Sir, I am asking about late fee not the interest