Excise return

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Rita (Querist)
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04 May 2012 Dear Expert
Kindly Suggest,

We have taken excise registration for our client two months back & he has not done any transaction so far so is it mandatory to file excise return and if yes then what is the penalty for late filing of return

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 May 2012 read link:

https://www.tax-heaven.net/irs-tax/excise-taxes-and-penalties.html

OK NOW CHECK THE BELOW MENTIONED LINK:

https://www.simpletaxindia.net/2011/03/penalty-for-late-filing-of-service-tax.html

Rita

Rita (Querist)
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04 May 2012 thank you for your reply. however i couldnt fnd anything on this site.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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05 May 2012 hence NIL return will be filed .

link read also:

https://www.caclubindia.com/experts/excise-delay-return-penalty-868500.asp

Noted that as per
Section 70 of the Finance Act 1994 provides that every person liable to pay the excise/ service tax shall himself assess the tax due on the services provided by him and shall furnish it to the Superintendent of Central excise, a return in such form and in such manner and such frequency and with such late fees not exceeding Rs20,000 for delayed furnishing of return as may be prescribed. Prior to April 08, 2011, the maximum penalty was Rs2,000, instead of Rs20,000 which is now prescribed.

Rule 7C of the excise/ service tax rules prescribes, where the return prescribed under Rule 7 is furnished after the date prescribed for submission of such return, the person liable to furnish the said return shall pay to the credit of the Central Government, for the period of delay of:
(i) fifteen days from the date prescribed for submission of such return, an amount of Rs500;

(ii) beyond fifteen days, but not later than thirty days from the date prescribed for submission of such return, an amount of Rs1,000; and

(iii) beyond thirty days from the date prescribed for submission of such return an amount of Rs1,000 plus Rs100 for every day from the 31st day till the date of furnishing the said return:

Provided that the total amount payable in terms of this rule, for delayed submission of return, shall not exceed the amount specified in Section 70 of the Act:

Provided further that where the assessee has paid the amount as prescribed under this rule for delayed submission of return, the proceedings, if any, in case of such delayed submission of return shall be deemed to be concluded.

for any query link is:
https://indiancas.blogspot.in/2011/01/excise-returns-penalty.html

Regards,

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