Gta-accounting code & interest.

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Rajendra Ahire (Querist)

23 January 2013 Dear Sir / Madam,

please guide us for GTA service Tax Payment Accounting code & Interest calculation. as per below example.

Transport Charges Rs.10000/-
Taxable Amt. Rs.2500/- (25% of Rs.10000/-)
Basic S T Rs.300/- (12% on Rs.2500/-)
Edu. cess Rs.6/- (2% on Rs.300/-)
H.Ed.Cess Rs.3/- (1% on Rs.300/-)

then we have calculate interest Amt. on Rs.300+6+3=309/-@18% as per delay days. Is it right ?
OR
we have calculate interest amount separately on each item as Rs.300/-, Rs.6/- & Rs.3/- ???

and tell us accounting code for above.
Thanks in advance.

Regards,

Rajendra

Jagdishkumar M Gor

Jagdishkumar M Gor (Expert)

24 January 2013 You have to pay the interest seperately i.e. for service tax interest code is 00440291, for Edu.Cess code of interest is 00440299 and for s&hec code is 00440427

Rajendra Ahire

Rajendra Ahire (Querist)

25 January 2013 Dear Sir,

Thanks for reply.
but code-00440291 for Construction business.

???

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