HOW MUCH INT. ADDED IN SERVICE TAX

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rajeev khulbe (Querist)
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08 April 2010 SIR MY SERVICE TAX FOR THE MONTH OF MARCH (2010) IS 15900. SIR SUPOOSE IF I WANT TO DEPOSIT AFTER DUE DATE(5 APRIL). THAN SIR PLEASE TELL ME HOW MUCH INTEREST ADDED IN MY SERVICE TAX. AS PAR MY KNOWLEDGE THE INTEREST RATE IS 13 %.
SO THE TOTAL AMT OF INTEREST IS 15900*13/100 2067
SIR IS IT CORRECT. IF WRONG THAN SIR CLEAR MY DOUBT.ANY PROVISION THAT THE INT. AMT NOT MORE THAN FOR 2000 PLEASE SIR THANKS IN ADVANCE.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 April 2010 The due date for service tax deposit for the onth of March is 31st March itself and not 5th April as for other months.

Interest is to be levied @ 13% p. a. on the the number of days calculated from the due date till the date of payment.

So suppose if you make payment on 09.04 then interest leviable for 9 days and calculation will be 15900*13/100*9/365 = Rs. 51

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 April 2010 And the maximum penalty for non filing of service tax in time is Rs. 2,000/- and not interest.

Interest amount can be any amount.

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CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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08 April 2010 agree with adityaji

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 April 2010 agreed

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