Service tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 October 2015 Dear experts,
One of client has not paid ST for the period of april to september, however my client will make the payment for the same in november, plz guide me can i file nil ST return by 25/10/2015, and after the payment within 90 day i will revise the same return..

Thanx & Regard
Mayank Agarwal

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 October 2015 Yes you can do that but advisable to make the payment and file return before 25th October 2015 to save interest on late payment of Service Tax.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 October 2015 Vide Notification No 12/2014-ST dated 11.7.2014, rate of interest to be charged on delayed payment of service tax has been enhanced w.e.f. 1.10.2014, based on period of delay. Thus, longer the delay period , higher would be the rate of interest payable.
# Up to six months - 18% p.a.
# Beyond six months to one year - 18% p.a. for the first six months of delay; 24% p.a. for delay beyond six months.
# Beyond one year - 18% p.a. for the first six months of delay; 24% p.a. for period beyond six months up to one year; 30% p.a. for any delay beyond one year.

If turnover during preceding FY did no exceed Rs 60 Lacs then there will be a concession of 3% and interest rate will be reduced from 18% p.a. to 15% p.a.