Penalties


This query is : Resolved 

(Querist)
14 November 2013 please tell me the penalties levied under ST (all interests and penalties)

visu iyer (Expert)
14 November 2013 penalty under sec. 76 (failure to pay tax - Rs.100 per day or 1% of service tax max. 50% of tax)
Penalty u/s 70 (for belated filing of ST-03 return Rs.500 for first 15-30 days Rs.1000 for next 30 days and max Rs.20000
Penalty u/s 77 Failure to take registration in time Rs.200 per day or max Rs.10000
failure to maintain books, not paying taxes electronically, any other contravention u/s 77 Rs.10000 for each default.


MANOJ (Querist)
15 November 2013 i didnt understand penalty u/s 70 for belated return

15 November 2013 penalty under Section 70 is levied if the assessee doesn't filed service tax return within the due date.

For delay upto 15 days : Rs 500

For delay between 15-30 days: Rs 1000

For delay in excess of 30 days: Rs 1000 plus Rs 100 each day (starting from 31 days) till the date return is filed with maximum penalty of Rs 20000.

visu iyer (Expert)
15 November 2013 S. agree with Nikhil ji

18 November 2013 yes i also agree with nikhil


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