Not filing of ret.

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rk (Querist)
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02 March 2011 pl advise me for: a collection agency for bank ( regd with Service tax dept.) is not getting Service Tax frm principal is require to deposit service tax.Secondly the co. has not submitted his ST Ret since last 3yrs but have deposited tax for some periods.pl.guide accordingly for penalty n interest also.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 March 2011 Agent has to deposit service tax. Late payment of tax attracts interest @ 13% per annum to be calculated for the number of days delay. Delay in filing 1/2 yearly returns in form ST-3 attracts rule 7C of the Service Tax Rules,1994 by which late filing fee has to be paid ranging from500/- to2000/- depending on the period of delay. However both the rate of interest and late filing fee has been substantially increased in the proposed budget, which may be taken care of.