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Please help me with this sum.

16 March 2016

There was a delay of 10 days in payment of ST of ₹ 5 lakh by an assesse. What will be the penalty payable for this delayed payment?

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3 Replies

Hardik Thacker (Student CA Final ) (49 Points)
Replied 16 March 2016

There is no penalty but interest will have to pay.if ur preceding year turnover is less than 60 lacs then 15% int p.a and more than 60 lacs then 18 % int p.a .here 3% concession is given

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rekhila (working) (27 Points)
Replied 17 March 2016

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Nainika Joseph (2 Points)
Replied 23 March 2016

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