Penalty for late filing of half yearly Service Tax Return
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.
|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.