Service Tax Registration

Disadvantages


If you fail to register for Service Tax (even when you are eligible), you may attract a penalty of Rs 1,000 as per Section 77 of the Finance Act. On late payment of Service Tax, a penalty of upto Rs 2,000 can be imposed. Under Section 76 of the Finance Act 1994, failure of paying service tax in time may lead to a penalty of Rs 100 to 200 per day up to the actual amount of the service tax a person failed to pay.