My friend has a propritorship co. He is a travel agent ( Airlines ticket ) . The Last two qtr of fin year 2013-14 has no billing , therefore no ST liability. By mis concept he has not filed nil return , now if he want to file ST-3 return for the period ended 31.03.2014 --- is he liable for any penalty for late filing. If yes how much he has to pay.
Regards
Jayanta
As per ST Rules,1994-Late fees is payable for delay in furnishing of ST return.
Delay upto 1-15 days = Rs.500
Delay beyond 15 days but upto 30 days= Rs.1000
Delay beyond 30 days=Rs. 1000+100 rs. per day subject to maximum of Rs, 20,000
However, in case of NIL ST liabilty , you may seek for waiver of Penalty u/s 80 of FA,1994(ST)...however it will be absolute discretion of Supretendent of Central Excise to waive the same or not.....
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