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.

[KASTURI SETHI]

Your calculation of late fee is correct.

[DR.MARIAPPAN GOVINDARAJAN]

Your calculation is correct.

Late fee for delayed ST-3 filing imposes fixed initial surcharge plus per-day penalty after the initial period. Calculation of late fee for delayed ST-3 filing follows Rule 7(c)(AI Summary)