Gta-accounting code & interest.
This query is : Resolved
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
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
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
25 January 2013
Dear Sir,
Thanks for reply.
but code-00440291 for Construction business.
???
Thanks for reply.
but code-00440291 for Construction business.
???
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