INTEREST ON LATE PAYMENT OF SERVICE TAX
NOTE:- AFTER 01-10-2014
(A) DELAY UPTO 6 MONTHS : 18%
(B) DELAY BEYOND 6 MONTHS BUT UPTO 1 YEAR : 24%
(C) DELAY BEYOND 1 YEAR : 30%
PENALTY ON LATE PAYMENT OF SERVICE TAX
HIGHER OF
(A) PENALTY NOT LESS THAN RS.100/- FOR EVERY DAY DURING WHICH FAILURE CONTINUES
(B) 1% of such tax per month
BUT SHALL NOT EXCEED 50% OF SERVICE TAX DUE
NOTE:- AFTER 01-10-2014
(A) DELAY UPTO 6 MONTHS : 18%
(B) DELAY BEYOND 6 MONTHS BUT UPTO 1 YEAR : 24%
(C) DELAY BEYOND 1 YEAR : 30%
PENALTY ON LATE PAYMENT OF SERVICE TAX
HIGHER OF
(A) PENALTY NOT LESS THAN RS.100/- FOR EVERY DAY DURING WHICH FAILURE CONTINUES
(B) 1% of such tax per month
BUT SHALL NOT EXCEED 50% OF SERVICE TAX DUE
PENALTY FOR LATE FILLING OF SERVICE TAX RETURN
NOTE AMT
(A) FOR DELAY UP 15 DAYS 500/-
(B) FOR DELAY BEYOND 15 DAYS AND UPTO 30 DAYS 1000/-
(C) DELAY BEYOND 30 DAYS-RS.1000/- PLUS RS.100 PER DAY OF DELAY BEYOND 30 DAYS 1000/- + NO OF DAYS DELAY*100/-
MAXIMUM LATE FEE UP TO RS 20,000/-
PENALITY OF NOT OBTAINING SERVICE TAX REGISTRATION
HIGHER OF
(A) RS 10,000/-
(B) RS. 200 PER DAY DURING WHICH FAILURE CONTINUES
CLICK HERE TO DOWNLOAD SERVICE TAX INTEREST CALCULATION SHEET IN EXCEL FORMAT
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