Penalty for late filing of half yearly Service Tax Return - Professionals - Taxation - TIK Share
0 Likes 5557 Views

Penalty for late filing of half yearly Service Tax Return


Stock Guru

2013-10-26

Hi, i provide Stock market consultancy. And recently got registered under service Tax.

And have not filed the Service Tax half yearly return, the last date was 25/10/2013. And want to file return now.

Is there any penalty for this? I mean penalty on late filing of Service Tax Return.

CA Pulkit Sharma

2013-10-26

 
Period of Delay Penalty/late fee before finance bill 2011 Penalty/late fee After Finance Act, 2011 (W.e.f. 01.04.2011)
for delay up to 15 days INR 500 INR 500
for delay beyond 15 days but up to 30 days INR 1,000 INR 1,000
for delay beyond 30 days INR 1,000 + INR 100 per day (from 31st daysubject to a maximum amount of Rs 2000. INR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 20000.

Above are the penalties as per Act.

However no penalties are applicable in certain cases.

Reply