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Penalty for non filing of return

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(Querist)
13 September 2013 I had filed ST3 return on 28.01.2013 instead of 25.10.2011 for the year 2011-12 (April to September). Now the ST range has sent a notice to pay the penalty of Rs.20,000 immediately for delay in filing return.
I want to know whether there is any provision or any case which i can use for not paying the penalty as our business is in loss. Now my business is in loss and i cant pay that much of penalty.
Please help me there is any way for not paying the penalty.
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CA Kintal Shah

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CA Kintal Shah (Expert)
14 September 2013 Penalty is Rs100 per day upto max of Rs.20000.

As such penalty can be levied to Rs20000 as per law.

You can apply for waiver of penalty by showing some reasonable cause.
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