09 April 2011
1. Kindly give a detailed article on availment of Cenvat Credit with recent amendments.
2. In "The Economic Times" i have read that interest on late payment of S. Tax is @ 3% for those assessees' who are not covered u/s 44AB. But while going thru google search it is being told @ 13%. Kindly advise.
10 April 2011
FROM 01.04.2011 THE INTEREST FOR DELAY PAYMENT OF SERVICE TAX IS 18% INSTEAD OF EARLIER RATE OF 13%,HOWEVER FOR THOSE SERVICE PROVIDERS WHOSE TOTAL VALUE OF SERVICE IS LESS THAN RS.60LACS IT WILL BE 3% LESS THAT IS 15% ONLY. FOE ARTICLE ON CENVAT CREDIT AMENDMENTS YOU HAVE TO REFER THE MAGAZINES LIKE ELT/ECR ETC.CA.SAGAR MAL PAREEK
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