Penalty on late filing of service tax return (urgent)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2012 Respected Seniors & Dear friends,

I wanted to know that whether the increased penalty of 20000/- on late filing of service tax returns will be applicable for the period of 01.10.2010 to 31.03.2011, as the rule came in effect as on 1st April 2011.

I have a return due for 2010-11 2nd half (Sep-Mar), Return is Nil,
what will be the amount of penalty if deposit it as on 12.01.2012.
Kindly reply..

Thanks & Regards:
Rajneesh Singh
C/o. Rajput Jain & Associates
(Chartered Accountants)
+919868668915
+918285062011
011-43520194

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 January 2012 Penalty of Rs. 20,000/- is in effect from 01.04.2011. However, there is no specific mention by drafting authorities for which tax periods this new maximum penalty cap will be applicable.
So any service tax returns filed on or after 01.04.2011 even for earlier tax periods will attract new penalty maximum cap of Rs. 20,000/-till the same is clarified other wise by way of departmental circulars.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2012 Thank You so much sir...

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