Urgent HELP !!!!!!!!SERVICE TAX for the period of july 2012 to march 2013

Dear Sir,

We have some quarry related to ST challan, We have not yet deposited the Service tax for the period of July2012 to 31st MARCH 2013. Could someone please help me out how much penalty ( If any) , we have deposit along with the service tax.

Requesting prompt response in this regard.

thanks in advance.

Replies (3)

There is no penalty for late depositing service tax, but interest will be paid 18% pa on days basis. 

Where service tax has not been levied or paid, or has been short-levied or short-paid, or erroneously refunded, for any reason, other than the reason of fraud or collusion or wilful mis-statement or suppression of facts or contravention of any of the provisions of this Chapter or of the rules made there under with the intent to evade payment of service tax, the person who has been served notice under sub-section (1) of section 73 shall, in addition to the service tax and interest specified in the notice, be also liable to pay a penalty not exceeding ten per cent. of the amount of such service tax.

further, on the base of your last year tournover the rate of interst decided. 

 

IN ADDITION TO THE ABOVE, IF YOU HAVE NOT FILED ST 3 RETURN FOR THE PERIOD, PENALTY WOULD ALSO BE PAID FOR THE SAME.

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