Monthly return

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CA Gokul (Querist)
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25 February 2012 CAN ANYONE PLEASE TELL ME WHAT IS THE INTEREST RATE FOR LATE FILLING OF CENTRAL EXCISE RETURN AND ALSO THE PENALTY ?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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27 February 2012 Section 70 contains the provisions for furnishing returns. Therein it is prescribed that in case of delay in furnishing of return a late fee not exceeding Rs. 2000 will be charged. Now, vide the Finance Bill, 2011 the maximum penalty for delay in filing of return under Sector 70 is proposed to be increased to Rs. 20, 000/-.

for explaining purpose link is:

http://www.simpletaxindia.net/2011/03/penalty-for-late-filing-of-service-tax.html

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