Interest on delay
This query is : Resolved
22 October 2009
I had paid ST in bank before due date.But the bank has given seal after due date ie 7th.Is we liable to pay interest for the delay of clearance on the side of bank.Pls clarify.
When we show challan date in ST return,should we show the tendering date or date of seal of bank....??
When we show challan date in ST return,should we show the tendering date or date of seal of bank....??
22 October 2009
Tendering date will be considered as date of deposit of tax provided the cheque is honoured.
22 October 2009
I am also confused about the payment date as in FAQ of the department question 24 it said
https://cenexcisenagpur.nic.in/ServiceTax/faq.htm
"The amount should be paid to the credit of the Central Government by the 25th of the following month or quarter as the case may be"
So I think date of credit in Govt A/c is the date of actual payment and not the cheque date.
Please clarify for clear my confusion.
Regards sanjay
https://cenexcisenagpur.nic.in/ServiceTax/faq.htm
"The amount should be paid to the credit of the Central Government by the 25th of the following month or quarter as the case may be"
So I think date of credit in Govt A/c is the date of actual payment and not the cheque date.
Please clarify for clear my confusion.
Regards sanjay
22 October 2009
Yes, sanjay chq. date does not matter unless the same is deposited in bank on same date.
Bank receipt date or tender date is the final date on which the amount is paid to credit of govt account.
Bank receipt date or tender date is the final date on which the amount is paid to credit of govt account.
22 October 2009
Pl have a look at CBDT Circular 261 dated 08/08/1979 reported in 120 ITR (St) 7 which is squarely applicable to Indirect tax payment also.
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22 October 2009
I agree with Mr. B. Sriniwasulu but you should have receipt of deposit cheque in the bank and keep it in your record.
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