Raghav Services Ltd. delayed the payment of service tax of ₹ 10 lakhs by 10 days. It has paid interest for the delayed payment. If it is liable for penalty, how much is payable by way of penalty ?
CS Executive · Tax Laws and Practice · PYQS · June 2017
Raghav Services Ltd. delayed the payment of service tax of ₹ 10 lakhs by 10 days. It has paid interest for the delayed payment. If it is liable for penalty, how much is payable by way of penalty ?
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: None of the options are found to be correct. The correct answer is - the penalty for non-payment of service tax can be levied upto 10% of Service Tax.
Topics: Service Tax
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