Service tax on rent and interest
This query is : Resolved
JYOTHILAKSHMI
(Querist)
07 August 2014
Sir,
They registered as Accommadation in Inn,hotel etc
They registered as Accommadation in Inn,hotel etc
Annu Agarwal
(Expert)
07 August 2014
Rent received in ist qtr i.e. ending 30.06.2014 =5,00,000
Service tax to be paid by 05.07.2014 as per Rule 6 of Serviec tax Rules= 5,00,000*12.36%=61800
Interest to be paid under section 75=61800*15%*36/365=914/-
Penalty to be paid under section 76=higher of
(i) 100*36 days=3600 or
(ii) 1/100*61800*36/30=741.6
So Penalty comes out to Rs 3600
Amount to be paid on 10.08.2014=61800+914+3600=66314
Please mention as to under which service you are registered so that to avail abatememt.
Service tax to be paid by 05.07.2014 as per Rule 6 of Serviec tax Rules= 5,00,000*12.36%=61800
Interest to be paid under section 75=61800*15%*36/365=914/-
Penalty to be paid under section 76=higher of
(i) 100*36 days=3600 or
(ii) 1/100*61800*36/30=741.6
So Penalty comes out to Rs 3600
Amount to be paid on 10.08.2014=61800+914+3600=66314
Please mention as to under which service you are registered so that to avail abatememt.
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