Srvice tax

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Yash Dave (Querist)
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03 March 2012 ONE IS PVT LTD COMPANY & OTHER IS PARTNERSHIP FIRM WHETHER SERVICE TAX TO BE PAID MONTHLY OR QUARTERLY WHAT IS THE DUE DATE FOR PAYMENT OF SERVICTAX TAX & DUE DATE FOR FILING OF SERVICETAX RETURN WHAT IS THE INETERST RATE & PENALTY RATE HOW TO CALCULATE IT

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 March 2012 i) Pvt Ltd company -- Service tax to be paid monthly -- cut off date is 5th of next month but for the month of March, cut off date is 31 st march. Return is to be e-filed 1/2 yearly -- cut off date 25th october for the ist half year and 25 th april for the 2nd half year.

ii) Partnership firm -- Service tax to be paid quarterly -- Cut off date is July 5th for 1st quarter,October 5th for second quarter,January 5th for 3rd quarter and 31st March for 4th quarter. Return filing as stated in clause (i) above.

iii) Interest for late payment of ST is @18% per annum for the number of days delay. However, if the gross receipts is less than Rs.60 lakhs per annum, interest rate is 15%.

iv) Delayed filing of 1/2 yearly return attracts late filing fee ranging from Rs. 500/- to Rs.20,000/- depending on the number of days delay.

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