Dec01
2014Extent of Delay | Simple interest rate per annum (Revised) | Simple interest rate per annum (Existing) |
Up to six months | 18% | 18% |
More than six months & up to one year | 18% for first six months, and 24% for the period of delay beyond six months | 18% |
More than one year | 18% for first six months, 24% for second six months, and 30% for the period of delay beyond one year | 18% |
Section | Type of Penalty | Relief u/s 80 |
76 | Penalty for failure to Pay service Tax as per Provision of S. 68 or Payment Rule | Relief available if assessee proves reasonable cause of failure to make payment |
77 | Penalty for failure to take registration, Failure to keep, maintain or retain books of accounts, fail to furnish information, fails to pay tax electronically, issued incorrect or incomplete invoice. | Relief available if assessee proves reasonable cause of failure to make payment |
78 (1) | Service Tax has not been levied or paid or short levied or short paid or erroneously refunded for :- Fraud, collusion, willful mis- statement, Suppression of fact or intent to avoid duty | Relief is not available. |
Proviso to 78 (1) | Penalty applicable will be 50% only if true and correct details have been provided. | Relief is not available, earlier it was available. |
Appeal | Pre- Deposit Limit |
Appeal before Commissioner (Appeal) | 7.5% of duty demanded or penalty imposed or both |
Appeal before Appellate Tribunal against the order passed by commissioner of central excise | 7.5% of duty demanded or penalty imposed or both |
Appeal before Appellate Tribunal against the order passed by Commissioner (Appeal) | 10% of duty demanded or penalty imposed or both |