Suppose a company which had rendered 6 Taxable services during a half year failed to file the Service Tax Return by 25th October. now if the company wants to file the belated return whether the late fee payable would be Rs. 500 for overall return or Rs.500 per service Aggregating 6*500 12000/-. also please clarify me under what accounting code shall the Late fee be remitted and where shall it be shown in the Service Tax Retun
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Late fee on belated filing of service tax return
Replies (1)
see the criteria for penalty is
upto 15 days = Rs.500/-
16 to 30 days=Rs.1000/-
More than 30 days = Rs.1000+ Rs. 100 per day beyond 30 days
and total amount of penalty would be maximum Rs.20,000/- THIS IS FOR OVERALL RETURN.
You may pay the penalty amount in the code mentioned near by taxable service provided code.
In the return there is separate column for penalty.
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