TENDERS
CITIZEN CARGO STATUS ACES e-PAYMENT BAGGAGE SERVICE TAX
 
 
P E N A L P R O V I S I O N S
PENAL PROVISIONS

1. Section 75

Interest on delayed payment of Service Tax : Any person who fails to credit the tax or any part thereof to the account of the Central Government within the period prescribed, shall pay simple interest at the rate of fifteen per cent per annum for the period by which such crediting of the tax or any part thereof is delayed.

2. Section 76

Penalty for failure to collect or pay service tax. Any person who fails to pay such tax shall pay in addition to paying such tax, an interest on that tax in accordance with the provisions of Section 75. He is also liable to pay a penalty which shall not be less than one hundred rupees but may extend to two hundred rupees for every day during which such failure continues. However, the penalty under this clause shall not exceed the amount of service tax that he failed to pay.

3. Section 77

Penalty for failure to furnish Returns: If a person fails to furnish in due time, the Returns which he is required to furnish, he shall be liable to a penalty which may extend to any amount not exceeding one thousand rupees.

 

4. Section 78

If the Assistant Commissioner of Central Excise or the Deputy Commissioner of Central Excise, as the case may be, in the course of any proceedings under this chapter is satisfied that any person has, with an intent to evade Service Tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of such taxable service, he may direct that such person shall pay a penalty in addition to the Service Tax and interest, a sum not less than, but shall not exceed twice, the Service Tax evaded by way of suppression or concealment of value of taxable service.

 

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