why the ST penalties are so harsh, Service Tax

[MANDAVILLI RAMAKRISHNA]

penalty for delay in filing returns of ST is huge and unlike income tax returns even in case

of nil returns also. at the mercy of the authorities only, the penalty can be waived.

why industry is not representing this matter?

 

 

Posts / Replies

[Seetharaman K C]

Your question is a valid one. In fact I have come accross cases where people who have closed the business have ended up paying these sums as penalty for non submission of returns. Maybe we could all take up this point wit our respective Industry Chambers of  Commerce and also through TMI for some relief in the next Budget,

[Pradeep Khatri]

The Central Government knows that the service providers and the persons liable to pay the tax cannot be 100% compliant, specially in tax matter.  Such non compliance provides oppurtunity to impose hefty penalties.  It is some sort of generatiom of revenue.

Trade and Industry should take up such matters before appropriate Government and through Assocham and FICCI.