The payment of interest for late payment of service tax is mandatory. Interest will not be exempt from paying interest for late payment of service tax. If you believe that you should be exempted from a fine because the failure to pay the tax on time was due to reasonable cause and was not intentional or due to negligence, you have the right to request a penalty exemption. You MUST pay all taxes and interest due before a request for a penalty exemption is considered.
Under the previous provision, the service tax penalty could not be relaxed after an order. However, under the new provision, 75% of the penalty can be exempted if the payment of the service tax and the interest due are paid within 30 days of the order. In case of fraud, 75% of the fine can be exempted, if the service tax is paid, the interest due is paid by a 25% penalty within 30 days after the order is placed. Electronic audit (visited after 18 months), the service provider wants to pay the amount without SCN If the following instruction has legal support, Even before issuing the SCN, if an appraiser pays taxes plus interest, how does the fine apply Instruction F.
Under the new provisions, late payment of service tax entails a minimum non-discriminatory penalty of 10% of the tax liability for services. Last date for the semi-annual return on Form EXP-2 by the exporter who used the ST exemption for the available GTA service. Late filing: two (percent) of the total tax due for every 30 days or a fraction of it that a tax return or report is delayed. Under the above provision, the fine for late payment of the service tax could be eliminated for reasonable reasons.
In the event of fraud, 85% of the amount of the penalty can be exempted if the service tax liability plus interest and the 15% penalty are paid within 30 days of notification. Underpayment or late payment of estimated income tax or LLET (for tax years beginning before January 1, 2018): 10 percent for non-payment of any estimated income tax installment within the time limit prescribed by law. Underpayment of estimated income tax or limited liability tax, LLET (for tax years beginning January 1, 2018): The amount of underpayment or late payment of Kentucky's estimated income tax or LLET multiplied by the interest rate owed by the Tax. It may be an advantage for you to wait until you pay the tax due in full before requesting penalty relief under the Service's first-time penalty reduction policy.
Article 73 (of the Finance Act) provides for the termination of the procedure if the tax together with the obligation to pay interest has been settled before the notification is issued. Late payment and lack of withholding or collecting taxes as required by law: two (percent) of the total tax due for every 30 days or a fraction of the same as a payment is late. The required tax identification number, permit, license or other authority document is not obtained in a timely manner: 10 percent of any cost or fee for the identification number, permit, etc. required.
There is no provision for exemption from payment of the late payment surcharge under Rule 7 (c) of the Services Tax Rules of 1944, and the appellant is required to annul it. Last date for the semi-annual return on Form EXP-4 of the exporter who has made use of the ST exemption for the service provided by a commission agent located outside India. .
