Accounting code
This query is : Resolved
07 November 2008
I am unable to get the accounting code for 'Rent on Immovable Property' and the codes for interest and penalty for late payment.
Moreover how much interest and penalty is applicable for late payment? Pls advise
Moreover how much interest and penalty is applicable for late payment? Pls advise
07 November 2008
S.T 00440416
CESS 00440298
SHE CESS 00440426
INTEREST 00440407
PENALTY 00440407
LATE PAYMENT INTEREST -- SIMPLE INTEREST @13% PER ANNUM.
CESS 00440298
SHE CESS 00440426
INTEREST 00440407
PENALTY 00440407
LATE PAYMENT INTEREST -- SIMPLE INTEREST @13% PER ANNUM.
07 November 2008
Penalty for non payment of service tax is levied u/s 76.
It says failure to pay service tax attracts penalty which is not less tha Rs 200/-perday till failure continues or @2% per month of service tax payable which ever is higher so however that total amount of penalty shall not exceed the service tax amount.
It says failure to pay service tax attracts penalty which is not less tha Rs 200/-perday till failure continues or @2% per month of service tax payable which ever is higher so however that total amount of penalty shall not exceed the service tax amount.
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