Rule 07C, Service Tax Rules

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....ule 07C, Service Tax Rules<br> Query (Issue) Started By: - Harsh Jindal Dated:- 23-8-2012 Last Reply Date:- 23-8-2012 Service Tax<br>Got 1 Reply<br>Service Tax<br>Can anyone please explain Rule 07C of service tax rule 1994.? Reply By Pradeep Khatri: The Reply: Payment of late fee/amount for delay in filing of Service Tax Returns- Section 70 read with Rule 7C,[ Inserted vide Notification No. 20/2....

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....007 dated 12.05.2007] of STR, 1994. With effect from 08-04-2011 Delay inDays Latefees/Amount Payable Up to 15 days Rs. 500/- 16 to 30 days Rs. 1000/- More than 30 days Rs. 1000+ Rs. 100 for each day of subsequent delay. However, total amount of Additional Fee under Rule 7C read with Section 70 shall not exceed Rs. 20000/- Note: - The delay is to be calculated from the day immediately suc....

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....ceeding the last date of due date of filing of return. It has been, inter alia, clarified in TRU letter bearing No. 334/3/2011-TRU dated 28-02-2011 that existing rate of penalty under Rule 7C read with Section 70 shall not exceed Rs. 20000/- is being retained. The maximum penalty is presently reached after a delay of 40 days. The new limit [of Rs. 20000/-] that up to delay of 40 days in filing of....

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.... Service Tax Return, the new limit becomes inconsequential. Looking from another perspective, the new limit will come into play only when there is a delay of more than 40 days in filing of Service Tax Return. The revised higher monetary limit of Rs. 20000/- has come into force with effect from 08-04-2011.<br> Discussion Forum - Knowledge Sharing ....