Service tax
vatan
(Querist) 18 September 2011
This query is : Resolved
on late payment of service tax 13% simple interest is payable on the taxable service. This interest is payable for the days from the due date, till actual date of deposit of tax. Is the assesee also liable to pay penalty after paying interest?
A V Vishal
(Expert) 18 September 2011
Yes, assessee is liable for penalty too u/s.76.
prabhakar singh
(Expert) 19 September 2011
Mr.A.V.Vishal is right.
provisions he is refereeing are here for your look.Section 76 of the Finance Act, provides that any person, liable to pay Service Tax in accordance with the provisions of Section 68 of the Finance Act, or the rule made thereunder, who fails to pay such tax shall pay in addition to paying such tax, and interest on that tax in accordance with the provisions of Section 75 of the Finance Act, , a penalty which shall not be less than one hundred rupees but which may extend to two hundred rupees for every day during which such failure continues, so, however, that the penalty under this clause shall not exceed the amount of Service Tax that he failed to pay. Penalties under this Section shall be over and above the payments of actual amount of tax due under Section 68 of the Finance Act, and interest under Section 75 of the Finance Act, .The penalty under Section 76 is of mandatory nature and can not exceed the amount of Service tax in question.
vatan
(Querist) 13 November 2011
Under which law, pattas alloted to sc, bc, obc people in villages of uttar pradesh.
