Query on service tax interest rate
This query is : Resolved
Guest
Guest
(Querist)
11 October 2013
Hi,
Someone may please reply, if possible:
Query 1
Assessee has taken registration on June 2013. His turnover comes to around Rs.15 Lacs only from June to Sep. 2013.
What is the Interest Rate applicable for him, as he is yet to pay the Service Tax Payment? [As his taxable service value is less than Rs.60 Lacs in the current financial year, can I proceed with 15% only (by availing concession of 3%].
Ans : ……………..
Thanks in advance for your replies.
Someone may please reply, if possible:
Query 1
Assessee has taken registration on June 2013. His turnover comes to around Rs.15 Lacs only from June to Sep. 2013.
What is the Interest Rate applicable for him, as he is yet to pay the Service Tax Payment? [As his taxable service value is less than Rs.60 Lacs in the current financial year, can I proceed with 15% only (by availing concession of 3%].
Ans : ……………..
Thanks in advance for your replies.
CA Pallav Singhania
(Expert)
11 October 2013
Yes you can proceed with 15 percent interest as ur taxable service is less than 60 lacs...
regards,
regards,
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