Service tax
This query is : Resolved
21 December 2012
i am giving security service how much i paying monthly int & penalty
Kaushik Vinod
(Expert)
23 December 2012
Hi Padma.gh,
The rate of interest in case of late payment of service tax is 18% p.a simple interest(15% in case your services are up to Rs. 60 lacs).
Penalty for failure to pay tax from 08-04-2011 are as follows:-
Rs.100 per day during the period the failure continues or
Amount calculated @ 1% pm on the tax due
Maximum penalty is 50% of the tax payable.
Thanks
The rate of interest in case of late payment of service tax is 18% p.a simple interest(15% in case your services are up to Rs. 60 lacs).
Penalty for failure to pay tax from 08-04-2011 are as follows:-
Rs.100 per day during the period the failure continues or
Amount calculated @ 1% pm on the tax due
Maximum penalty is 50% of the tax payable.
Thanks
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