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TMI Blogpenality of late payment on service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... penality of late payment on service tax X X X X Extracts X X X X X X X X Extracts X X X X ..... now that whiter penalty is available on late payment of service tax? Kindly clarify in this regard Reply By sv bhasker: The Reply: Interest @18% under Notification 14/2011-ST in addition to other p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enal interest under Section76 of the Finance Act, 1994 Reply By Pradeep Khatri: The Reply: Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable. Reply By Pradeep Khatri: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply: Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable. Reply By Pradeep Khatri: The Reply: Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... leviable. Reply By Pradeep Khatri: The Reply: Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable. Reply By sv bhasker: The Reply: dear pradeepji It appears to me that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oviders 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I am wrong.
Regards X X X X Extracts X X X X X X X X Extracts X X X X
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