Is there any penalty dealy payment of service tax
This query is : Resolved
Devaraja H.P
(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
Can you give information about is there any penality for dealy payment of service tax if assessee is other than company
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.
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.
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
Chandrakant Ambani
Bombay
9819408963
9821240674
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