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of <h1>Central Govt Amends Service Tax Rules 1994: New Penalties for Late Tax Returns Under Rule 7C Introduced.</h1> The Central Government has amended the Service Tax Rules, 1994, introducing Rule 7C, which imposes penalties for delays in submitting service tax returns. If a return is filed late, a fee of 500 rupees is charged for delays up to 15 days, 1,000 rupees for delays between 15 and 30 days, and 1,000 rupees plus 100 rupees per day for delays beyond 30 days. The total penalty cannot exceed the amount specified in section 70 of the Finance Act. Payment of the penalty concludes any related proceedings, including those initiated before the Finance Bill, 2007 was enacted.
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