Pending payment of the period 2010 - 11 received in the current month, we haven't paid Service Tax for invoice raised in 2010 - 11 due to non receipt of the remittance. Now in Jan 2014 we received the pending payment. At the time of raising invoice, we charged 10.3 % service tax as per the applicable at that time. But now Service Tax rate is 12.36 %. Please tell me how much percentage of service tax we have to pay now.
30 January 2014
You will pay 10.3% only and show the same in the ST-3 return appropriately. However, if the department asks the clarification at a later date, you will submit the above details because at the time of making invoice, the rule position is payment of service tax on receipt basis only. Hence, you will pay 10.3% now and show the figures accordingly.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
31 January 2014
Dear Sir,
Thanks for your prompt reply.
One more question, do we have to pay interest on it (we raised invoice in 2010-11 but we recd money in Jan,2014) if yes then how do we calculate it ?
CAclubindia
