Interest & Penalty

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deepakkumarsingh (Querist)
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26 June 2011 Dear Sir

We have not deposited the Service Tax of Jan'2011-March'2011. till date due to fund crisis. Now i want to Pay the Service Tax amount alongwith Interest .pls Guide me what Interest rate will be payable by me.

after deposit the Tax & Interest The return of Oct'2010 to March2011 to be submit , pls. guide us regarding Penalty for delay filinf of ST-3

Rgds
deepak

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 June 2011 Interest rate is :-
18% from 1/4/2011 to the date of payment. However,if the annual receipts of the service provider is not more than 60/ lacs rate of interest is 15% as against 18%.

Late filing fee of ST-3 is Rs.20,000/-

Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 June 2011 The total delay in filing the return till today is = 62 days. The penalty is Rs. 1000/- for 31 days and Rs. 100/- per day from the 31st day, subject to a maximum of Rs. 20,000/-. The penalty till today comes to Rs. 4100/-

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