Non payment of service tax
This query is : Resolved
24 September 2009
can you pls tell what are the consequences in case of non payment of service tax.what would be the consequences if service tax collected is not paid beofre filing return of income
24 September 2009
Interest under section 75 interest shall be levied at the rate of 13% per annum. Further, penalty under section 76 would be Rs. 200 every day such failure continues or 2% of such tax whichever is higher starting with first day after due date till the day of actual payment. Provided that the total amount of the penalty payable in terms of this section shall not exceed the service tax payable. Further penalty under section 78 would be twice the amount of the service tax payable.
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