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 ..... nt or suppression of facts or 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 se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 73, the time within which the reduced 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11, w.e.f. 8-4-2011, before it was read as, two hundred rupees 3. Substituted vide Finance 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce with the provisions of section 75, a penalty which shall not be less than 2 [one hundred rupees] for every day during which such failure continues or at the rate of 3 [one per cent] of such tax, per month, whichever 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 amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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