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Is there any penalty dealy payment of service tax

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(Querist)
29 March 2009 Sir,
Can you give information about is there any penality for dealy payment of service tax if assessee is other than company
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Dayal

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Dayal (Expert)
29 March 2009 Penalty is 2% per month

Penalty is extendable to 100% of the defaulted amount, if detected by the authorities and SCN is issued in this regard.

Interest is 13% pa on the delayed payment.
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
29 March 2009 Penalty comes in force if any concealment is detected. In your case If there is a sipmle delay in payment of collected / established dues then Interest @ 13% PA will be applicable, How ever if you have not filed your returns due to non payment of service tax the penalty there is 100/- Per day for first 30days of delay & then Rs 1000/- Max for further delay.

Chandrakant Ambani
Bombay
9819408963
9821240674
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