Penalty on late payment of service tax
This query is : Resolved
ANKUR GUPTA
(Querist)
19 October 2015
Pls clarify whether penalty is payable on late payment of Service Tax or not as per amendment made by Budget 2015.
Regds
Regds
Sagar mal Pareek
(Expert)
19 October 2015
Budget 2015 is silent on this issue.However budget 2014-15 ,vide notification no.12/2014-ST (Effective from 01/10/2014 has incresed the rates for delay payment of service tax depending upon the delay. for delay up to six months it is 18*,more than six months but less than a year it 18% for six months and 24% for the delay beyond six months. More than a year , 18% for first six months,24% foe second six months and 30% for the period beyonf one year.Threepercet concession however is there as per section 75 that is for those below (value of Ser.Tax.60 Lacs).ca.sagar mal pareek
19 October 2015
Yes, can be penalized u/s 76 in addition to interest to be payable under rule 7C.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Gift to nri relatives residing in usa
- GST input credit on commercial property
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
