Penalty for late payment of service tax and return for the FY 2016-2017

In This article we are going to cover Interest on late payment of service tax penalty on late payment of service tax interest on late payment of service tax for fy 2016-17 service tax interest rate 2016-17 service tax interest rate for fy 2016-17
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Penalty for late payment of service tax

 Penalty for late payment of service tax  and return:

If the service tax owed by the taxpayer to the government is not paid on time, the government levies penalties on the payment as follows:

service tax not collected and not deposited  - 15% penalty.
Service tax collected but not deposited        - 24% penalty

It should be noted that if the total value of the taxable services provided by the taxpayer during the year is less than Rs. 60,00,000, the simple penalty interest rate is 12%.

Late fees and penalties for the filing of the service tax return:

If the service tax return has not been filed on the due date for the six - month period, the late fee is charged to the taxpayer as follows:

Rs.500 late fees for applications delayed up to 15 days from the due date.
Rs.1000 late fee for delayed 30-day requests (more than 15 days, less than 30 days) from the due date.
Rs.1,000 + Rs.100 late fee for delayed applications of more than 30 days.
It should be noted that no taxpayer will be required to pay more than Rs.20,000 in late fees.

In the event of errors to be corrected or omissions to be made in the form Tax return on services, the taxpayer must provide and submit a revised service tax return within 90 days of the date of submission Of the original document.

Also Read:

Due Dates for Service Tax Payment & Return Filing| Service Tax Return Filing Due Date 

Depository Service Income Tax Return

Those who have a tax registration number of service are required by law to file their tax returns on a semi-annual basis.

That is to say, all those whose tax is assessed as payers of the service tax and registered for tax on services must file their service tax return once every 6 months d A fiscal year.

Taxes on services that are collected by the insured (service provider) for the provision of services must be deposited with the government on a monthly or quarterly basis, as applicable. The service tax return, however, must be filed on a semi-annual basis.

Income tax return form:
When providing the declaration, the service provider must duly complete a special tax return for further processing by the government. The tax return form to be used for the service tax return is form ST-3 or form ST-3A.

Whatever form the plate uses, the following details must be provided:

The total value of taxable services invoiced or invoiced.
The total value of taxable services performed.
The total amount of service tax payable / paid.

File Service Tax Return Online

In order to make the most of online efficiency, the government made it mandatory for all service providers to file their returns online at The online filing of service income tax returns is not only easier and saving time it is also mandatory.

Once the taxpayer has registered on the website, they can download the ST-3 or ST-3A tax return forms. These forms are formatted in Excel to act as file return utilities with their own macro commands.

For taxpayers who offer two or more taxable services:

Where a service provider provides more than one service that the government determines to be taxable, it must provide the relevant details in the columns provided on the forms. No matter how many taxable services are provided, however, the taxpayer only has to file a tax return for services for the relevant period.
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