PENALTY FOR LATE FILING OF ST RETURNS, Service Tax

[MANDAVILLI RAMAKRISHNA]

Dear all,

how much penalty to be paid for the delay in filing ST returns of 2010?

Posts / Replies

[Seetharaman K C]

With effect from 08-04-2011 the penalty has been increased from the earlier maximum amount of Rs 2000 to Rs 20000. Please refer to Section 70 of Chapter V of the Finance Act, 1994. This revision is prospective in nature and therefore for the year 2010 the older provision would apply and the penalty chatgeable should be Rs 2000 only