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penality of late payment on service tax , Service Tax

Issue Id: - 3383
Dated: 14-9-2011
By:- sanjay gupta
penality of late payment on service tax

  • Contents

Dear Sir,

I want to know that whiter penalty is available on late payment of service tax?

Kindly clarify in this regard

Posts / Replies

Showing Replies 1 to 6 of 6 Records

1 Dated: 14-9-2011
By:- sv bhasker

Interest @18% under Notification 14/2011-ST in addition to other penal interest under Section76 of the Finance Act, 1994 


2 Dated: 18-9-2011
By:- Pradeep Khatri

Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.


3 Dated: 18-9-2011
By:- Pradeep Khatri

Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.


4 Dated: 18-9-2011
By:- Pradeep Khatri

Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.


5 Dated: 18-9-2011
By:- Pradeep Khatri

Yes, penalty up-to Rs. 20000/- is imposable and interes @ 18% p.a. is leviable.


6 Dated: 18-9-2011
By:- sv bhasker

dear pradeepji

It appears to me that 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 providers 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 I am wrong.

Regards


1

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