Regarding penalty
This query is : Resolved
09 February 2012
I have collected the service tax on 25-Aug-2011 but did not made the payment on 05-sep-2011. so i want to know whether penalty attracts for this.
If attracts what is the rate or amount.
If attracts what is the rate or amount.
09 February 2012
For your kind information now service tax is payable on accrual basis means at the time of provision of service or issue of invoice as per Point of Taxation Rules, 2011 except agst 8 specified services provided by individual or partnership firm.
Please ensure the same while paying service tax.
Anyways, if u failed to deposit ST in time then you need to deposit ST along with interest @ 15% or 18% as the case may be.
You need not to deposit any penalty in that case.
Please ensure the same while paying service tax.
Anyways, if u failed to deposit ST in time then you need to deposit ST along with interest @ 15% or 18% as the case may be.
You need not to deposit any penalty in that case.
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Dep. as per companies act
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- Salary from Qatar in Dollars in India
- TDS on purchase of under construction property from a reseller
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
Quick Links
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
