Consequences if the service tax is not paid
This query is : Resolved
13 February 2012
What is the consequences if Service tax is not paid till 31st March.
what amount a company penalized. is any type of prosecution is there for Investor or Directors of Company.
what amount a company penalized. is any type of prosecution is there for Investor or Directors of Company.
13 February 2012
Failure to pay service tax also attracts a penalty under Section 76 of the Act, which shall not be less than Rs 200 for every day during which such failure continues or at the rate of 2% of such tax per month, which ever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax. However, such penalty would not exceed the service tax payable.
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