Service Tax Return Is submitted & Revised July-2011
This query is : Resolved
Arun Yadav
(Querist)
25 July 2011
Sir Actually Oct10 to March-11 NIL Return is submitted on 02-05-2011 but actually liability is arise, services on Transporter in the month of December-2010 & March-2011, is interest is also payable on this amount, any penalty is applicable. what Rate of interest & penalty applicable
Bhavesh Gupta
(Expert)
27 July 2011
Since service tax has not been paid, you would be liable to pay interest. The rate of interest is 13% pa till 31 March 2011. Post 1 April 2011, interest is 18% pa (15% if your turnover is less than 60 lakhs).
Since your liability is for period prior to April 2011, the rate of interest will be 13%.
Since your liability is for period prior to April 2011, the rate of interest will be 13%.
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