Intrest on late payment of service tax in reverse charge mec
This query is : Resolved
15 June 2013
Dear Sir/Madam,
I woulud like to ask you that if the date of ivoice is of Oct and the same bill is booked in Jan what will be the consequences?
What will be the last date of booking the service tax: is it 30days from oct or from Jan?
I woulud like to ask you that if the date of ivoice is of Oct and the same bill is booked in Jan what will be the consequences?
What will be the last date of booking the service tax: is it 30days from oct or from Jan?
15 June 2013
At the rate of 18% per annum.
15 June 2013
Please note under reverse charge ,
Service tax is payable by service receiver when actual payment is made to service provider and not on receipt of Invoice from service provider. However, if payment is not made to service provider within 6 months, service tax is anyway payable. Interest is also payable.
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=642370
So if you have made payment after 6 months then interest will be applicable otherwise no interest will be applicable
Thanks & regards
Ganeshbabu
Service tax is payable by service receiver when actual payment is made to service provider and not on receipt of Invoice from service provider. However, if payment is not made to service provider within 6 months, service tax is anyway payable. Interest is also payable.
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=642370
So if you have made payment after 6 months then interest will be applicable otherwise no interest will be applicable
Thanks & regards
Ganeshbabu
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