Service Tax

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suresh talam (Querist)

11 June 2009 What is the due date for payment of Service Tax? if failed in the due date what is the rate of interest? after the due date what is the time limit for payment of service tax with interest without penalty. or both applicable interest+penalty?

Thanking you,

Suresh Talam

Aditya Maheshwari

Aditya Maheshwari (Expert)

11 June 2009 Due date for payment of service tax is 5th of the next month in case of companies and 5th of every quarter in case of other than company and in respect of March quarter/month 31st March. If epayment of service tax is made then 6th of next month / quarter but for March - 31st March. If not paid within due date then interest @ 13% p. a. leviable from the due date till the date of payment of service tax

Aditya Maheshwari

Aditya Maheshwari (Expert)

11 June 2009 For non payment or delayed payment of service tax, as per section 76, a mandatory penalty not less than Rs.200/- per day during which such failure continues or @2% of such tax per month, whichever is higher, shall be imposed by the adjudicating authority.
If the service provider proves that,in reply to the SCN, there was sufficient cause for such failure penalty will be waived u/s 80 of the Finance Act,1994.

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