Levy of penality

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Dhinesh (Querist)
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07 March 2012 As i had filed the service tax return for the period September 2010 to March 2011 on 16.02.2012. how much will be the penalty for the late filing of the return, I heard that the maximum penalty will be Rs.2,000/- upto 31.03.2011. but after that the maximum penalty will be Rs.20,000/- is it correct.
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CA. AVINASH MANDOWARA

CA. AVINASH MANDOWARA (Expert)
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07 March 2012 As per Section 70(1) & Rule 7C Penalty are as under

delay upto 15 Days 500
Delay upto 15-30 days 1000
and delay beyond 30 days 1000 plus 100/day subject to maximum 20000/-

Provided the total amount payable
in terms of this rule shall not
exceed the amount specified in
Sec.70 of the Act.

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