The Service Tax Act-1994

Penalty on late Payment of Service Tax under Service Tax Act – Section 75 to 80

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Contents – Interest on Delayed Payment : Section 75. Penalty for Failure to Pay Tax : Section 76. Penalty for Different Reasons : Section 77. Penalty Liable for Various Defaults. Penalty for Suppressing Value : Section 78(1). Waiver Penalty : Section 80. Introduction – It is basic theme that the discipline must be followed by … Read more

Provisions for Payment of Service Tax

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Service Tax



WHAT IS SERVICE TAX ?

Introduction –
    
Every time it is not possible to the tax payers to pay the taxes within the prescribed time provided under the wealth Tax act. By any reason, The tax payer or here to say the assesses has failed to pay the dues within free prescribed time by any reason which may be relevant or irrelevant. Student should keep in mind that is no emotion considered for recovery of taxes by the government. What is reasonable is the question of fact to be decided by the government authority.

If the taxpayer failed to pay the taxes within time the penalty will be attracted which would be in addition to the Tax. Interest? It is to be noted that interest and penalty are quite different terms. The penalty is not calculated on the percentage basis.