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Revision of service tax return

This query is : Resolved 
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(Querist)
01 March 2012 A CONCERN HAS FILED SERVICE TAX RETURN OF APRIL TO SEP 2010 , BUT THE SERVICE TAX AS CALCULATED BY THE CONCERN IS NOT PROPER , THE PAYABLE AMOUNT IS NOW CALCULATED AND IT IS ABOVE WHAT HAS BEEN DEPOSITED AND FILED IN THE RETURN.

I WANT TO KNOW THAT I CAME TO KNOW THIS FACT NOW ON 01.03.2012, AND AFTER APR - SEP-2010 NO RETURN HAS BEEN FILED NOR ANY SERVICE TAX AMOUNT HAS BEEN PAID?

WHATS THE REMEDY AND APPLICABLE PENALTY?
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Kumod

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Kumod (Expert)
04 March 2012 Dear Mr. Rathor,

The concern can follow any one course of action out of below two options available:

(I) Belated Filing of return:
1. It attracts LATE FEES of Rs.20,000/-(in your case) in terms of Rule 7-C of ST Rules, 1994.
2. However, in case of NIL Return only, waive/reduction of Late fees can be requested for by an application to CEO with satisfying reasons for not filinf the return.
3. Your belated return will be scrutinized in normal course.

(II) Non - Filing of Return
1. It attracts PENALTY (max. limit upto Rs.10,000/-) in terms of Sec 77 of FA, 1994.
2. Waiver of penalty can be requested for (sec 80 of FA, 1994).
3. It is most likely to lead to "Best Judgement Assesssment" (Sec 72 of FA, 1994)

In my opinion; Option (I) is recommended.
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