Interest u/s 75
This query is : Resolved
28 January 2016
My question is that where the asessee volantarily made part payment of service tax within 30 days from relevant date, whether interest charged under section 75 will be on full amount or outstanding amount in show cause notice( in bonafide case)?
02 February 2016
Service Tax liability is payable on the 6th of the subsequent month for bodies corporate and 6th of the month subsequent to the end of the quarter for others. There is no period for payment of outstanding dues - whether a SCN cum Demand is issued or not. If the tax and interest is paid within 30 days of issue of SCN, then the penalty leviable is reduced to 25% of the amount payable. There is no provision for reduction of interest payable.
Message likes :
1 times
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Reporting in TDS return
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Banking Related Issue
- Residential status of non resident
- ITR-3 File/Error Found
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
