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Panelty on late patment of S.T

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18 July 2009 what is panelty & interest has to be charged on late payment of service tax....????
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 July 2009 If a person fails to furnish the ST-3 return with in the due date (25th October and 25th April every year) he shall be liable to penalty which may extend to Rs. 5,000/-Ref:- Section 77.
Mandatory late filing fee of Rs.500/- to Rs.2,000/- depending on the number of days delay has to be paid. Re:- Rule 7C.
Interest @13% per annum has to be paid for the period from the 1st day after the due date till the date of payment for any defaulted amount of service tax. Ref:- Section 76.
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