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TMI BlogPenalty for Failure to pay service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... r contravention of any of the provisions of this Chapter or of the rules made thereunder with the intent to evade payment of service tax, the person who has been served notice under sub-section (1) of section 73 shall, in addition to the service tax and interest specified in the notice, be also liable to pay a penalty not exceeding ten per cent. of the amount of such service tax: Provided that whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d penalty is payable under clause (ii) of the proviso to sub-section (1) in relation to such increased amount of penalty shall be counted from the date of the order of the Commissioner (Appeals), the Appellate Tribunal or the court, as the case may be.] ********************** Notes : 1. Substituted by the Finance Act, 2006, w.e.f. 18-4-2006. Prior to its substitution, section 76, as amended by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inance Act, 2011, w.e.f. 8-4-2011, before it was read as, two per cent 4. Inserted vide Finance Act, 2011, w.e.f. 8-4-2011 5. Substituted vide Finance Act, 2011, w.e.f. 8-4-2011, before it was read as, Illustration X, an assessee, fails to pay service tax of ₹ 10 lakhs payable by 5th March. X pays the amount on 15th March. The default has continued for 10 days. The penalty payable by X is co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax: Provided that the total amount of the penalty payable in terms of this section shall not exceed 4 [fifty per cent of] the service tax payable. Illustration X, an assessee, fails to pay service tax of ten lakh rupees payable by the 5th March. X pays the amount on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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