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penalty on delayed payment of service tax

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Querist : Anonymous

Querist : Anonymous (Querist)

22 October 2010
service tax paid late i am paying interest on delayed .

IS there any penalty addition to it .

Aditya Maheshwari

Aditya Maheshwari (Expert)

22 October 2010 Non-payment or delayed payment of service tax attracts penalty u/s 76 -Rs.200/-per day or 2% of such tax per month which ever is higher.

This demand is payable only if raised by the department.

Querist : Anonymous

Querist : Anonymous (Querist)

22 October 2010 Thanku so much buddy you mean to say we ourself just paid the interest and penalty not paid ourself unless deptt not raised the demand correct me

Aditya Maheshwari

Aditya Maheshwari (Expert)

22 October 2010 yes u are correct in the above interpretation.

Also if a reasonable cause is shown then the penalty cannot be levied by the department.

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