Service Tax Interest and Penalty

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  1. shahid

    shahid New Member

    I am operating business of GTA from 13-14. I am registered under service Tax and charge services tax in the bills under reverse charge as it is a partnership firm. Till date i have not deposited any service Tax to tha govt nor i filed any return. Total recepts was approx 13 lacs per year.
    If i want to deposit S. Tax and file return, how much interest and Penalty should i pay. Is there any criminal penalty applicable?
     
    shahid, Mar 27, 2015
    #1
  2. Udaya Chandran

    Udaya Chandran Member

    Interest rate is 30% for late payment of service tax more than one year. If you pay service tax before notice, you need not to pay penalty.
     
    Udaya Chandran, Mar 27, 2015
    #2
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