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TMI BlogPenalty U/s 76 & 77X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Team One of my client had made default in submission of his service tax return .. I mean he submitted the return late by approx 6 to 8 months .. and his service tax liability was rs. 5.5. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lacs which he has paid with interest now i want to know what was the penalty which he should pay .. - Reply By Pradeep Khatri - The Reply = Penalty under Section 76 ( Failure to make payment o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f service tax within time - Section 68 ) W.e.f. 08.04.2011 Rs. 100/- per day or 1% of the tax per month, whichever is higher subject to maximum of 50% of tax amount that assessee has failed to pay. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Under Section 77 the maximum penalty amount can go upto Rs. 10000/- (w.e.f 08-04-2011) Since your client has filed return late (more than of 30 days) - In this scenario you will be liable to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pay the maximum penalty of Rs. 20000/- - Reply By Pradeep Khatri - The Reply = Futher, Since your client has deposited the service tax alongwith interest therefore, you can make request to the D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment that do not issue any show cause notice ( if already not been issued upon your client) and do not impose penalty upon your client. - Penalty U/s 76 & 77 - Query Started By: - Saurabh Singh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 24-8-2012 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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