penalty for non filing of return.
This query is : Resolved
15 August 2008
service tax returns from fy 2005-06 are not filed. whether to file return in new form st-3 or old. further, what will be the penalty for late filing. sanjay
17 August 2008
You need to file the return in new format. and according to the rule 7C : Where the return in prescribed form is furninshed after the due date for it submission, the person liable to furnish such return shall pay to the credit of Central Government a fee for such delayed submission, compute as follows:-
delay of 15 days ------------ Rs. 500/-
Beyond 15 days but
up to 30 days from
the due date ----------- Rs. 1000/-
Beyond 30 days from
the due date ----- Rs. 1000 + Rs.100
for every day from
the 31st day till
the date of furnishing
of return; sub. to
maximum of rs. 2000/-
delay of 15 days ------------ Rs. 500/-
Beyond 15 days but
up to 30 days from
the due date ----------- Rs. 1000/-
Beyond 30 days from
the due date ----- Rs. 1000 + Rs.100
for every day from
the 31st day till
the date of furnishing
of return; sub. to
maximum of rs. 2000/-
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