late fee for delayed filing of ST-3 returns.

[IMMANUEL NEIHSIAL]

Respected Sir,

please make a calculation for late fee for delayed filing of ST-3 for 43 days for the period from October to March for the financial year 2012-13. for delays of beyond 30 days.

Rule 7(c) provides that

Where the return prescribed under rule 7 is furnished after the date prescribed for submission of such return, the person liable to furnish the said return shall pay to the credit of the Central Government, for the period of delay of-

(i) fifteen days from the date prescribed for submission of such return, an amount of five hundred rupees;

(ii) beyond fifteen days but not later than thirty days from the date prescribed for submission of such return, an amount of one thousand rupees; and

(iii) beyond thirty days from the date prescribed for submission of such return an amount of one thousand rupees plus one hundred rupees for every day from the thirty first day till the date of furnishing the said return:

Provided that the total amount payable in terms of this rule, for delayed submission of return, shall not exceed the amount specified in section 70 of the Act:

Provided further that 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.

The pertinent point is (iii) . To my view- 1000+ 13 days=1000+1300=Rs.2300/-

Please correct me if i am wrong.

thank you sir.

AI Summary

Late Fees for ST-3 Returns: Rule 7(c) Caps Charges at Rs. 2,300 for 43-Day Delay in 2012-13 A discussion on a forum addresses the calculation of late fees for a delayed filing of ST-3 returns for 43 days for the financial year 2012-13. According to Rule 7(c), the late fee is calculated as Rs. 1,000 for delays beyond 30 days, plus Rs. 100 for each additional day. The original poster calculated the fee as Rs. 2,300, which was confirmed as correct by two respondents. The rule specifies that the total fee should not exceed the amount specified in the relevant section of the Act, and once paid, proceedings related to the delay are deemed concluded.