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Penalty for late filing of return., Service Tax |
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Penalty for late filing of return. |
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What is minimum and maximum penality for late submission of Half yearly return.
Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Section 77 of Finance Act 2004 provides a general penalty of maximum of Rs.1000/- for any contravention of the Act or Rules for which no separate penalty is provided.
There is no minimum penalty has been prescribed for such fault. Under section 77 (a residual peanlty) applicable to this query prescribes a maximum penalty of Rs. 1,000 of such failure.
The maximum penalty for late submission of half yearly return is Rs 1,000/-. If it has not been late for more than a month then the penalty shall be reduced. Page: 1 Old Query - New Comments are closed. |
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