Rate of intt. & penalty for late filling of service tax ret.
This query is : Resolved
28 November 2013
Dear Sir
What is the Intt. & Penalty of Service Tax If We have not filed yet My Service Tax Return for the Period 01.10.2012 to 31.03.2013 & 01.04.2013 to 30.09.2013
What is Rule of 7c of late fieler of Service tax return
What is the Intt. & Penalty of Service Tax If We have not filed yet My Service Tax Return for the Period 01.10.2012 to 31.03.2013 & 01.04.2013 to 30.09.2013
What is Rule of 7c of late fieler of Service tax return
28 November 2013
As per rule 7C which deals with amount to be paid for delay in furnishing the prescribed return of the Service Tax Rules ,there is a penalty for late filing of service tax return.There is no interest payable on late filing only penalty.
For delay upto 15 days- Rs 500/-
Beyond 15 days upto 30 days- Rs 1000/-
Beyond 30 days-Rs 1000/ Plus Rs 100 for every day beyond 30 days
The total amount of penalty shall not exceed Rs 20,000 as specified in Section 70.
in your case
For 01.10.2012-31.03.2013,due date-31.08.2013,delay till date i.e as on 28/11/2013=89 days,penalty payable=1000+59*100=1000+5900=Rs 6900
For 01.04.2013-30.09.2013,due date-25.10.2013,delay tii date i.e. as on 28/11/2013= 34 days,penalty=1000+4*100=1000+400=1400
For delay upto 15 days- Rs 500/-
Beyond 15 days upto 30 days- Rs 1000/-
Beyond 30 days-Rs 1000/ Plus Rs 100 for every day beyond 30 days
The total amount of penalty shall not exceed Rs 20,000 as specified in Section 70.
in your case
For 01.10.2012-31.03.2013,due date-31.08.2013,delay till date i.e as on 28/11/2013=89 days,penalty payable=1000+59*100=1000+5900=Rs 6900
For 01.04.2013-30.09.2013,due date-25.10.2013,delay tii date i.e. as on 28/11/2013= 34 days,penalty=1000+4*100=1000+400=1400
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