TMI BlogPenalty provisions under service tax at a glanceX X X X Extracts X X X X X X X X Extracts X X X X ..... Penalty provisions under service tax at a glance - Commentaries / Editorials Dated:- 15-6-2008 - News - 1. Section 76: Failure to pay service tax: Minimum penalty = 2% per month (on prorate basis) or Rs. 200/- per day which ever is higher and Maximum penalty = Amount of Service Tax 2. Section 77 : (A) Failure to Get Registered Minimum Rs. 5000/- Or Rs. 200/- per day, whichever is h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igher (B) Fails to keep, maintain or retain books of account Maximum Rs. 5000/- (C) Failure to furnish information or Produce Document or Appeal before officer against summon Minimum Rs. 5000/- Or Rs. 200/- per day, whichever is higher (D) Fails to make payment electronically Maximum Rs. 5000/- (E) Failure related to Invoice Maximum Rs. 5000/- (F) Residual Penalty Maximum Rs. 5000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Section 78: Failure to pay service tax with intend: Minimum Penalty = 100% of the amount of service tax sought to be evaded and Maximum Penalty = 200% of the amount of service tax sought to be evaded. 4. Rule 7C of Service Tax Rules, 1994 read with Section 70 : Fine / penalty of late submission of Return: Period delayed in furnishing Return Amount of Pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nalty Maximum Penalty 15 Days from the Due Date Rs. 500/- -- Beyond 15 Days but Upto 30 Days from the Due Date Rs. 1000 -- Beyond 30 Days from the Due Date Rs. 1000/- plus Rs. 100/- per day beyond 30 Days Rs. 2000/- - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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