Service Tax Payments pending for 2010-11 and 2011-12

[CASeetharaman KC]

In some cases mostly in case of medium scale service providers  it happens that there are service tax dues which are discovered when the finalisation of accounts is done. Would it be appropriate to pay the amount with interest when discovered and mention the same in 3CD returns? I guess penalty provisions would still apply ? Also the ST-3 returns submitted cannot be revised as the time period of 90 days would be over. Shall be grateful for your adv ise

AI Summary

Voluntary payment under Section 73(3) shields against penalties except for fraud or suppression, but interest must be paid.
Pay discovered service tax immediately with interest and disclose the payment in current returns and statements (including 3CD). ST-3 revisions are typically time-barred. Voluntary self-payment and informing the revenue generally precludes penalties except where fraud or suppression is involved.