1998 (10) TMI 1 - AT - Service Tax

Service Tax Stock Broker Delay in furnishing of ST-3 return and payment of service tax Penalty imposable

Summary

The Appellate Tribunal CEGAT, Calcutta disposed of four appeals related to penalties imposed on a stock-broker for late submission of ST-3 returns. The penalties were reduced by the Commissioner (Appeals) to Rs. 1,000 each, but the Revenue argued for a minimum penalty of Rs. 100 per day as per Section 77 of the Finance Act, 1994. The Tribunal rejected the appeals, stating that the minimum penalty is Rs. 100 and the maximum is Rs. 200 for each day of delay, not Rs. 100 per day.