Service Tax
This query is : Resolved
Mukesh Kumar Tomar
(Querist)
24 October 2009
My Querry is "the company for which i work was incorporated on 20.02.2009 having nil turnover for FY 07-08 and 5 Crore for FY 08-09. neither we have filed any Service Tax return nor we have deposited service tax due some unavoidable reasons. so, what are the consequences for not paying/filing of service tax. can we pay the same in this financial year, if yes, what are accounting treatment?
Shyam Lal Naik
(Expert)
24 October 2009
Non payment attracts interest and penalty.
Interest u/s 75
Penalty u/s 76, 77, 78
Penalty u/s 76 & 78 are mutually exclusive.
In addition, you shall be liable for late fee of Rs. 2000.00 for late filing of return.
Interest u/s 75
Penalty u/s 76, 77, 78
Penalty u/s 76 & 78 are mutually exclusive.
In addition, you shall be liable for late fee of Rs. 2000.00 for late filing of return.
ANIL JANGID
(Expert)
25 October 2009
Are you manufacturer or service provider?
Mukesh Kumar Tomar
(Querist)
27 October 2009
we are a private limited company in the field of construction.
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