service tax penalty calculation
This query is : Resolved
28 June 2016
dear sir.
our client start a business on 1st may 2015 . as advertisement agency , it is sole proprietor business. end of the year the sales example 25lakhs. so we claim abdatment of Rs.10lakhs . the balance amount 15lakhs is taxable income .
it is coolect or not and how to calculate interest and penalties.
please kindly help me
28 June 2016
it is correct or not
28 June 2016
limit of 10 lacs for the one year if you cross the limit in single year then you have to get registration when your receipts cross 9 lacs after that you have to pay the tax of the month on 6th of the next month. if you not pay the tax then you have to pay the intt. if you make payment before notice then you are not liabile to pay penalty its 25% of the duty.
28 June 2016
Thank you for ur reply. But it is a sole propritorship. First time crossed 25lakhs . So the exemption is 10lakhs applicable or not.
Case 2. How to calculate penalty for not filling return?
For example im not file return as of now. How much to pay a penalty.?
Case 2. How to calculate penalty for not filling return?
For example im not file return as of now. How much to pay a penalty.?
28 June 2016
your year was 2015-16
and from 1-4-16 new year already stared.
penalty for service tax return
delay up to 15 daysINR 500 INR
delay beyond 15 days but up to 30 daysINR 1,000
1,000for delay beyond 30 daysINR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 2000.INR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 20000.
and from 1-4-16 new year already stared.
penalty for service tax return
delay up to 15 daysINR 500 INR
delay beyond 15 days but up to 30 daysINR 1,000
1,000for delay beyond 30 daysINR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 2000.INR 1,000 + INR 100 per day (from 31st day subject to a maximum amount of Rs 20000.
28 June 2016
Thank you sir.
Please kindly find the below calculation , it is coorect or not.
Due date of filling is 25 april 2016
4+ may+june= (4+31+30)=65 days.
First 30 days is Rs.1000
Then remaining 35 days x 100= 3500
So the total penalty is Rs. 4500/-
It is correct.
Please kindly find the below calculation , it is coorect or not.
Due date of filling is 25 april 2016
4+ may+june= (4+31+30)=65 days.
First 30 days is Rs.1000
Then remaining 35 days x 100= 3500
So the total penalty is Rs. 4500/-
It is correct.
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