Peanlty Rs.20000 applicable to old ST returns submitted now?

[Prakash Bhandari]

Can any body clarify that wheather the maximum penalty (which is increased from Rs.2000 to Rs.20000) is applicable to the returns submitted now, however pertaining to period prior to 31/03/2011?

[YAGAY andSUN]

Please be specific about your query that it pertains to which law /state i.e. Sales Tax, Service Tax etc.

 

[Prakash Bhandari]

service tax

[YAGAY andSUN]

It is applicable from 01-04-2011.

[Prakash Bhandari]

Precisely it is applicable from 07/04/2011. However my question was whether Service Tax return pertaining to period prior to 31/03/2011 would attract penalty of Rs. 20000 upon late filing.

[KASTURI SETHI]

UPDATION

Section 70 of the Finance Act was amended w.e.f.8.4.2011(date of enactment) and not from 7.4.2011. Hence applicable from 8.4.2011 and not retrospectively.