Delay payment tax
This query is : Resolved
14 April 2012
sir,
service tax payment on or before 5th every month and only march for 31st.
my query any delay payment service tax paid to bank . What is the interest rate of against tax and taken interest month or days . If days number of days or month number of months
What is the service tax code of education cess , secondary and higher education cess and interest
service tax payment on or before 5th every month and only march for 31st.
my query any delay payment service tax paid to bank . What is the interest rate of against tax and taken interest month or days . If days number of days or month number of months
What is the service tax code of education cess , secondary and higher education cess and interest
14 April 2012
Interest @18% on delay in payment of service tax.
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'
calculation in days i.e actual no.of days( from the due date of payment of service tax up to the date of actual payment)
'
'
However assesses having turnover upto 60 lakhs are liable to pay interest @15%.
'
'
Accounting codes
For Education cess-00440298
For SHEC-00440426
For interst- it depends on nature of service.
'
'
calculation in days i.e actual no.of days( from the due date of payment of service tax up to the date of actual payment)
'
'
However assesses having turnover upto 60 lakhs are liable to pay interest @15%.
'
'
Accounting codes
For Education cess-00440298
For SHEC-00440426
For interst- it depends on nature of service.
14 April 2012
Agree with expert except that interest will be 15% if ur turnover does not exceed Rs. 60 lacs in previous financial year and not in the current financial year.
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