Penalty for late filing of return., Service Tax

[Praveen Aggarwal]

What is minimum and maximum penality for late submission of Half yearly return.

Posts / Replies

[Paramjit]

Section 77 of Finance Act 2004 provides a general penalty of maximum of Rs.1000/- for any contravention of the Act or Rules for which no separate penalty is provided.

[S Gupta]

There is no minimum penalty has been prescribed for such fault. Under section 77 (a residual peanlty) applicable to this query prescribes a maximum penalty of Rs. 1,000 of such failure.

[rishi mohan]

The maximum penalty for late submission of half yearly return is Rs 1,000/-. If it has not been late for more than a month then the penalty shall be reduced.