penalty for delay in filing 2000 to 20000/-

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 any body can send me the NOTIFICATION NO. or circular no. for amending this penalty,

as this change in rules 7 c of the Service tax rules 1994
please note that any amendment without notification is not a legal one, there fore kindly let me know the notification no. of the same.

CA Navin Jain

CA Navin Jain (Expert)
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23 April 2011 PENALTY SHALL NOT EXCEED rS. 2000

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2011 thanks Mr. Navin Jain,

for your quick , reply that means maximum penalty is 2000/- and not 20,000/-

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 April 2011 The maximum penalty for delay in filing of return under Section 70, has been raised from Rs.2000 to Rs.20000. However, the existing rate of penalty for the first 15 days and for the subsequent 15 days as well as the daily penalty of Rs.100 per day thereafter under rule 7C of the Service Tax Rules, 1994 are being retained without any change.
For details refer The Finance Act,2011.

CA Navin Jain

CA Navin Jain (Expert)
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25 April 2011 if service tax return is furnished after a delay of 40 Days then penalty is rs. 20000

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