Penalty for late payment of service tax.
This query is : Resolved
Piyush Agrawal
(Querist)
11 July 2013
Dear All,
Can any body tell me that, is there any penalty chargeable under ST for non payment of our ST due till 31-03-2013 along with interest.
Further, if ST upto march has not been paid till filling of ST Return, then what will be the consequences regarding the same.
ST due is approx 60lacs.
Can any body tell me that, is there any penalty chargeable under ST for non payment of our ST due till 31-03-2013 along with interest.
Further, if ST upto march has not been paid till filling of ST Return, then what will be the consequences regarding the same.
ST due is approx 60lacs.
CMA Ramesh Krishnan
(Expert)
11 July 2013
Interest on late payment of service tax is 18% per annum (day basis you can calculate the interest)
Incase your turnover is less than Rs.60 lakhs last financial year then you can pay interest 15% per annum
Incase your turnover is less than Rs.60 lakhs last financial year then you can pay interest 15% per annum
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