Interest & Panelty

This query is : Resolved 

12 May 2011

Dear Experts,

I want to know Interest Rate & Panelty (if applicable) for late payment of Service Tax & Excise Duty.

I also want to know Interest Rate & Panelty (if applicable) for late filing of Return of Service Tax & Excise Duty.

U S Sharma (Expert)
14 May 2011


Excise duty ..... 1.5% per month or part thereof.
Service tax ......1.5% per month or part thereof

Penlaty : if evasion is proved then 100% of duty payable
in other cases, it differ case to case

prerak (Querist)
15 May 2011

Interest @ 1.5% p.m. for What? Late Payment or Late filing of return???

U S Sharma (Expert)
26 May 2011

interest is charged on late payment only,

under excise , there is no provision of late return,

under service tax

Mandatory Penalty for Late filing of ST-3 Return under Rule 7C of Service Tax Rules, 1994

Sl. No.

Period of Delay from the prescribed date



15 days



Beyond 15 days but not later than 30 days



Beyond 30 days

Rs.1000/- plus Rs. 100/- for every day from the thirty first day till the date of furnishing the said return subject to max of 20000/-

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