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penality of late payment on service tax , Service Tax |
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penality of late payment on service tax |
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Dear Sir, I want to know that whiter penalty is available on late payment of service tax? Kindly clarify in this regard Posts / Replies Showing Replies 1 to 6 of 6 Records Page: 1
Interest @18% under Notification 14/2011-ST in addition to other penal interest under Section76 of the Finance Act, 1994
Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.
Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.
Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.
Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.
dear pradeepji It appears to me that penalty of Rs 20000/- is payable for late submission of returns under Section 70 and not for late payment of service tax which is the question. I may add now that interest is 15% in case of service providers whose taxable value is less than 60 lakhs in a year. In absence of citing Section 76,it appears that you are not in agreement with me on the interest under the said Section. Pl correct me if I am wrong. Regards Page: 1 Old Query - New Comments are closed. |
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