https://www.taxtmi.com/forum/issue?id=3319 Increase in the statutory cap on penalty for late filing of service tax returns takes effect from 1 April 2011; the scheme sets a tiered schedule of fixed amounts for short and intermediate delays and a fixed amount plus a daily incremental charge for longer delays, subject to the statutory maximum. For returns whose default spans the effective date, the penalty is computed by aggregating the amount chargeable under the pre-change regime up to the effective date and applying the post-change incremental calculation and new maximum for the subsequent period. en-us Fri, 26 Aug 2011 10:49:08 +0530 Thu, 23 Jan 2025 15:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3319 Increase in the statutory cap on penalty for late filing of service tax returns takes effect from 1 April 2011; the scheme sets a tiered schedule of fixed amounts for short and intermediate delays and a fixed amount plus a daily incremental charge for longer delays, subject to the statutory maximum. For returns whose default spans the effective date, the penalty is computed by aggregating the amount chargeable under the pre-change regime up to the effective date and applying the post-change incremental calculation and new maximum for the subsequent period. Discussion-Forum Service Tax Fri, 26 Aug 2011 10:49:08 +0530 https://www.taxtmi.com/forum/issue?id=3319