Rajeev (Student) 07 February 2008
Dear sir,
pls tell me about penalty for due payment of service tax.
I mean that the payment which was outstanding and not deposited in central gov. A/c.
Please I tell me.
CA O.P. SINGH (O P Singh & Co.) 07 February 2008
interest for late payment is 13% p a if it is paid before receipt of show cause notice penalty u/s 76 will be lavied @ 200 per day subject to service tax amount ,if paid after receipt of SCN
Amit Sharma (article) 07 February 2008
13 % (or) 200 Rs per day. The above are subject to Show cause notice.
V Chandramouli (Addl. Manager - Corporate Acco) 08 February 2008
you can deposit the same belatedly with 13% interest before issue of SCN. if it is after SCN then additionally you have to pay Rs. 200 per day as penalty u/s 76. if u prove that the delay is not intentional beyond dobt then depends on assessing officer you may get exemption
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