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TMI BlogPenalty U/s 76 & 77X X X X Extracts X X X X X X X X Extracts X X X X ..... Penalty U/s 76 & 77 X X X X Extracts X X X X X X X X Extracts X X X X ..... ult in submission of his service tax return .. I mean he submitted the return late by approx 6 to 8 months .. and his service tax liability was rs. 5.5. lacs which he has paid with interest now i want ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to know what was the penalty which he should pay .. Reply By Pradeep Khatri: The Reply: Penalty under Section 76 ( Failure to make payment of service tax within time - Section 68) W.e.f. 08.04.2011 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 100/- per day or 1% of the tax per month, whichever is higher subject to maximum of 50% of tax amount that assessee has failed to pay. Under Section 77 the maximum penalty amount can go upto Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10000/- (w.e.f 08-04-2011) Since your client has filed return late (more than of 30 days) - In this scenario you will be liable to pay the maximum penalty of Rs. 20000/- Reply By Pradeep Khatri: Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Reply: Futher, Since your client has deposited the service tax alongwith interest therefore, you can make request to the Department that do not issue any show cause notice ( if already not been iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued upon your client) and do not impose penalty upon your client. X X X X Extracts X X X X X X X X Extracts X X X X
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