TMI BlogPenalty for ST3 ReturnX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir, A export unit belatedly filed their ST3 during the period of 2013-2014 and after that they have paid applicable interest for the delay days...now department insist to applicable penalty. Whether it is correct...Please clarify - Reply By Ganeshan Kalyani - The Reply = Sir, Section 70(1) of Finance Act, 1994 , as amended w.e.f. 08.04.2011 provides that in cases where returns are file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d after due date, late fees not exceeding ₹ 20,000/- is payable for delayed filing of return, as may be prescribed. If return of Service Tax is not filed within prescribed period, penalty is leviable u/s 77(2) which can be up to ₹ 10000/-. If late fee is paid, penalty will not be imposed. The above provision will clear your doubt, I hope. Thanks. - Reply By KASTURI SETHI - The Rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly = Late fee and penalty both are separate in Service Tax. Normally, the department closes the chapte r after deposit of late fee for delay in filing ST-3 return . On the other hand at the same time, the doors of Section 77 (2) are open. Late fee and penalty are totally different in the eyes of law. - Reply By Ganeshan Kalyani - The Reply = Yes Sir I agree with you. Thanks. - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rajagopalan Ranganathan - The Reply = Sir, According to proviso 2 of rule 7C of Service Tax Rules, 2004 where the assessee has paid the amount as prescribed under this rule for delayed submission of return, the proceedings, if any, in respect of such delayed submission of return shall be deemed to be concluded . Therefore if you have paid late fee leviable for delayed filing of return th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en you are liable to pay any penalty. - Reply By KASTURI SETHI - The Reply = Sh.Raja Krishnan Ji, The term, deemed to be means supposed to be, considered to be, thought to be etc. but which is not in reality . In other words, the element of discretion is included. Late fee is not penalty and vice vers a. Late fee is for late submission of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny form, return etc. whereas penalty is imposed for contravention of the provision of Rule/Section of an Act.Both have different purposes. Moreover, Rule cannot override Section of an Act. In Central Excise both terms have been explained separately and separate provisions are for both. - Penalty for ST3 Return - Query Started By: - Raja krishnan Dated:- 15-7-2016 Service T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax - Got 5 Replies - Service Tax - Discussion Forum - Knowledge 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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