Levy of Penalty
This query is : Resolved
02 March 2011
Sir,
I have paid Service Tax with interest. I was told that Penalty also to be paid @ Rs.200/- per day from the due date of payment till the date of remittance.
My query is : I have paid the tax with interest. Is it necessary to pay penalty also.
Please advice
Thanks
P. Hemanth Kumar
I have paid Service Tax with interest. I was told that Penalty also to be paid @ Rs.200/- per day from the due date of payment till the date of remittance.
My query is : I have paid the tax with interest. Is it necessary to pay penalty also.
Please advice
Thanks
P. Hemanth Kumar
03 March 2011
Yes. Interest and penalty are two different things.
03 March 2011
In case, the liability is detected by yourself without pointing out by the department, no need to pay Penalty. Otherwise you have to pay penalty. In case Show Cause Notice is given to u, within a period of a month of issue of Adjudication order, if you pay 25% of tax amount as penalty, the issue will be closed.
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