LATE FEE FOR TAX DEPOSIT
Querist : Anonymous
What penellty applicable if i have not deposit my last quarter service tax before 31.03.2010.
Rakesh
Querist : Anonymous
I think 100 or 200 per day. this is correct or not please confirm me
Any person, liable to pay service tax in accordance with the provisions of section 68 or the rules made under this Chapter, who fails to pay such tax, shall pay, in addition to such tax and the interest on that tax amount in accordance with the provisions of section 75, a penalty which shall not be less than two hundred rupees for every day during which such failure continues or at the rate of two per cent of such tax, per month, whichever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax.
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