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.
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service tax
Replies (4)
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
13 %
(or)
200 Rs per day.
The above are subject to Show cause notice.
13% interest and 200 penalty per day, but u deposited the all amount before issue show caused notice and with proper reason then u can exemption .
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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