If I have paid my service tax, due on 31st march2011, on 23rd may2011, what wil be the interest rate and other penalties applicable???Also if I have filed my service tax return, due on 25th october2010 & 25th apr 2011, on 2nd june2011, what wil be the late fee applicable???
Interest 1.5% per month or part there of
late fine .............. upto 30 days 1000, thereafter 100 per day of default ( maximum 20000 per return)
1.5% interest per month is applicable from 1-4-2011. My service tax liability was due on 31-3-2011. So, is it possible to pay interest @ 13% per month, as it is the rate prevailing at 31-3-2011.
can you please help me abt service tax
i allready paid the service tax but i didnt returnes that from last financial year
can u please how much is the interest i want to pay
| Originally posted by : Pavan Kumar | ||
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can you please help me abt service tax i allready paid the service tax but i didnt returnes that from last financial year can u please how much is the interest i want to pay |
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As u hav already paid the service tax on time so no interest is applicable.. For late filing of return u hav to pay late fee.. After that u can file the return..
i agree with u s sharma but maximum penalty is 2000(two thousand only) and not 20000 for late filing of return.
| Originally posted by : Rajnikant Vadigoppula | ||
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i agree with u s sharma but maximum penalty is 2000(two thousand only) and not 20000 for late filing of return. |
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interest rate upto 31.03.11 was 13% p.a
from 01.04.11 onwards it is 18%p.a
Earler late filing penalty it was rs.2000 i.e upto 31.03.11 but from 01.04.11 onwards upto 15days Rs.500/- 15days to 30 days rs.1000/- and above 30days rs.100/- perday subject to maximum rs.20000/-
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