Penulty

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sshreu (Querist)
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12 September 2011 I have not submitted my ST-3 for the period 2009-10. i would like to submit my ST-3 in the month of sept i.e.25.09.2011.
what would be my penulty for late submission of ST-3 RS.2000.00 or RS.20,000.00.
plz give me in details.

U S Sharma

U S Sharma (Expert)
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13 September 2011 from 01-04-2011 its 20000 maximum per return.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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13 September 2011 ‘In Section 70 (1) of the Finance Act, 1994, for the words “two thousand rupees”, the words “twenty thousand rupees” shall be substituted’. After considering the above amendment the Maximum Penalty for
Late Filing of Service Tax Return, is been increased to 20000/- (Twenty Thousand) w.e.f. 01.04.2011 from earlier 2000/- (Two Thousand).

Rule 7C of the Service Tax Rules, 1994

However, the existing rate of penalty under rule 7C of the Service Tax Rules, 1994 are being retained without any change.

Mandatory Penalty for Late filing of ST-3 Return under Rule 7C of Service Tax Rules, 1994

Sl. No.
Period of Delay from the prescribed date
Penalty
1
15 days
Rs. 500/-
2
Beyond 15 days but not later than 30 days
Rs. 1000/-
3
Beyond 30 days
Rs. 1000/- plus Rs. 100/- for every day from the thirty first day till the date of furnishing the said return
Subject to a maximum amount of Rs. 2000.

Conclusion :-

1. Suppose Assessee has to file the return delay not more than 15 days then he liable to pay penalty Rs. 500

2. Suppose Assessee has to file the return delay Beyond 15 days but not later than 30 days then he liable to pay penalty Rs. 1000

3. Suppose Assessee has to file the return delay Beyond 30 days but not later than 40 days then he liable to pay penalty Rs. 1000 + Rs. 100 per day till filling the return but penalty can not exceed of Rs. 2000

4. Suppose Assessee has to file the return delay Beyond 40 days then he liable to pay penalty but penalty can not exceed of Rs. 20000 if service tax return is furnished after a delay of 40 Days then maximum penalty is Rs. 20000

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