Penalty on late filing of return

[Atul Gupta]

Hi Friends,

Please clarify whether maximum penalty of Rs. 20000/- on late filing of service tax returns applies to the returns filed for half year ended on 31.03.2011 or it will start to apply on the returns for the period 01.04.2011 to 30.09.2011?

Thanks  & Regards

AI Summary

Discussion Clarifies Rs. 20,000 Penalty Applicability for Late Service Tax Returns Under Section 70 and Rule 7C A forum discussion addressed the applicability of the maximum penalty of Rs. 20,000 for late filing of service tax returns. The query sought clarification on whether the penalty applied to returns for the half-year ending March 31, 2011, or from April 1, 2011, to September 30, 2011. Respondents explained that the penalty provisions, as per Section 70 of the Finance Act and Rule 7C of the Service Tax Rules, 1994, apply from April 1, 2011. They detailed the penalty structure based on the delay period, confirming the increased penalty applies to returns filed after this date.