St interest & penalty

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2016 Dear Seniors, pls let me know the latest ST interest on delay in ST payment and penalty for delay in filing ST return, Thanks & Regard Ankur Jain

Rupesh Jain

Rupesh Jain (Expert)
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27 June 2016 service tax not collected the @15%
service tax collected and not deposited then @24%
if your taxable service is below Rs. 60 lacs then rate will @12%

fine for late filing
Delay in Filing of Return After the Due Date Late Fees
First 15 days Rs. 500/-
More than 15 days but not more than 30 days Rs. 1000/-
More than 30 days 1000 + 100 per day beyond 30 days
The Late Fee in any case Cannot Exceed Rs. 20,000/-

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