TMI BlogRule 07C, Service Tax RulesX X X X Extracts X X X X X X X X Extracts X X X X ..... Can anyone please explain Rule 07C of service tax rule 1994 .? - Reply By Pradeep Khatri - The Reply = Payment of late fee/amount for delay in filing of Service Tax Returns- Section 70 read with Rule 7C ,[ Inserted vide Notification No. 20/2007 dated 12.05.2007] of STR, 1994 . With effect from 08-04-2011 Delay inDays Latefees/Amount Payable Up to 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... days Rs. 500/- 16 to 30 days Rs. 1000/- More than 30 days Rs. 1000+ Rs. 100 for each day of subsequent delay. However, total amount of Additional Fee under Rule 7C read with Section 70 shall not exceed Rs. 20000/- Note: - The delay is to be calculated from the day immediately succeeding the last date of due date of filing of return. It has been, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inter alia, clarified in TRU letter bearing No. 334/3/2011-TRU dated 28-02-2011 that existing rate of penalty under Rule 7C read with Section 70 shall not exceed Rs. 20000/- is being retained. The maximum penalty is presently reached after a delay of 40 days. The new limit [of Rs. 20000/-] that up to delay of 40 days in filing of Service Tax Return, the new limit becomes inconsequential. Lo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oking from another perspective, the new limit will come into play only when there is a delay of more than 40 days in filing of Service Tax Return. The revised higher monetary limit of Rs. 20000/- has come into force with effect from 08-04-2011. - Rule 07C, Service Tax Rules - Query Started By: - Harsh Jindal Dated:- 23-8-2012 Service Tax - Got 1 Reply - Service Tax - Discussion Forum - Knowled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - 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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