Interest and penalty on delayed payment of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2013
We are providing service to an NGO and the total contract is of Rs 18 lac payable quarterly (start of the quarter) against invoice. we have issued invoice on 10 Sept for Rs 9 lac without any service tax since till 10 lac ST is exempted. Our next bill was raised on 10th Dec on which ST of Rs (900000/112.36)*12.36%=99003 has been charged and invoice amount is Rs 800997. Is this correct method or service Tax has to be paid on the first 9 lac also, pls reply it is urgent
19 December 2013
Dear friend,
It seems that the taxable value for the last financial year was below 10 lakhs. If there is no specific mention that service tax will be paid extra, then the amount is to be considered as inclusive of service tax. Therefore, the calculation done by you is correct. There is no need of paying service tax on the first 9 lakhs, provided you have not issued the bill without indicating the service tax component.
It seems that the taxable value for the last financial year was below 10 lakhs. If there is no specific mention that service tax will be paid extra, then the amount is to be considered as inclusive of service tax. Therefore, the calculation done by you is correct. There is no need of paying service tax on the first 9 lakhs, provided you have not issued the bill without indicating the service tax component.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
