w.e.f 1st March 2015, Sub rule (6) has been inserted in Rule 12 of CER,2002 as following
"Where any return or Annual Financial Information Statement or Annual Installed Capacity Statement referred to in this rule is submitted by the assessee after due date as specified for every return or statements, the assessee shall pay to the credit of the Central Government, an amount calculated at the rate of one hundred rupees per day subject to a maximum of twenty thousand rupees for the period of delay in submission of each such return or statement"

Some questions may arise
Q1. Can the rule be applied for non filing of returns for the previous years like 12-13,13-14 which have not been filed till date. For example ER-4 for the year 12-13 is not filed till date.As the offence has continued till date, will the new provision apply?

Q2. Can the rule be applied only after the assessee files the return as it says "submitted by the assessee after due date". What if the assessee never submits a return?

prashant saraswat 03/11/2015