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Delay in Service Tax Payment

Rams (Accountant) (36 Points)

08 February 2008

Due Date of paying service tax is 5th of every month Actually service tax was pd on 5/2/08 , but in stax form some challan number was not mentioned due to which bank did not processed the payment of service tax on 5th & actually got debited on 7th. of this month. Bank has acknowledged dated 7/2/08 in the challan.Ofcourse i know there is default in payment. Will there be any interest amt payable?? If No what should be the next procedure Kindly revert at the earliest.Rgds Ramesh iyer

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43 Replies

(Guest)

Ofcourse the interest to be paid. Because the date of acknowledgement date is 07.02.08. If the situation would have that acknowledgement date is 05.02.08, and amount debited on 07.02.08, then interest would not have payable because it is the part of default of bank.

(Guest)

wh will be the interest amt payable

M.Sriram Shenoy (CA Final) (814 Points)
Replied 11 February 2008

Interest amount payable would be 13% per annum to be calculated on service tax amount for the delay period.

Ravishankar (C.A) (454 Points)
Replied 11 February 2008

Service tax amt is 262129/- acknowledgement date 7/2/08. What will be the interest amt pyble.

(Guest)

Dear sir/Madam

service Tax due date for mar-08 payament is required

Regards

Ravi.

OFFICESELVA (Service) (515 Points)
Replied 26 March 2008

@ Ravishankar16

The interest payable is Rs.187/-

The service tax due date for March 2008 is 31/03/2008

(Guest)

March 2008 service tax payment due date is 31-03-2008

(Guest)

we have deposited our service tax rs 1161164/- on 31-03-08. but the cheque has been return by our bank due to some reason . now same cheque will be represented to our bank on 02-04-08. so what will be the interst amount for the delayed payment . as the bank is taking new challn from us which dated 02-04-08.

OFFICESELVA (Service) (515 Points)
Replied 01 April 2008

Interest works out to be Rs.827/- if the interest is paid on 02/04/2008.

CA Dushyant Maharishi (CA) (178 Points)
Replied 02 April 2008

I think int. amt should be payable @ 13%p.a. for the delay payment on the amt. of s.t. payable.

(Guest)

AS I AM MAINTAINING ACCOUNTS FOR ONE OF THE CO OPERATIVE HOUSING SOCIETY IN SANTACRUZ AREA.

THE SOCIETY ARE HAVING TWO NO OF PAN CARDS. AS THE OLD ONE WHICH WE ARE NOT OPERATING SINCE THE SAME HAS NOT BEEN DISCLOSED TO US BY THE EARLIER ACCOUNTANT.

NOW NEW PAN NO IS IN OPERATION ON WHICH WE ARE FILING OUR RETURNS. SO ADVICE WHAT TO DO OF THE OLD PAN .

OFFICESELVA (Service) (515 Points)
Replied 02 April 2008

You should surrender the Pan Card. See the link below:

https://203.200.237.10/sparsh*tax.net/pan/newPAN.asp

It is sparsh*tax. Whether it is my firefox beta or the administrators of the fourm delibertely replacing * for i I am not sure.

(Guest)

when payment is recd on 31.03.2008 evening but credited in the bank, and there is no time to pay service tax on that day, whether we can pay the service tax along with the April Service Tax.

Whether any interest or penalty wil be applicable