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Date we count the interest on delayed deposit of st?

Abhimanyu Bind (CA Final Student & Audit Assitant) (2049 Points)

20 November 2013

Hello experts,

Our client is under mandatory e-payment of service tax as the payment is above Rs. 10 Lakh.

Now, from which date we shall count the delayed interest, is it 6th of the month or 7th of the month in which tax is due.

In my opinion we shall count delayed interest from 7th of the particular month in which tax is due as we require to pay e-payment but unable to find any specific circular or section clearing this point.

Please, confirm this point and it would be best if we have some reference.

Thank you with expectition.

Regards,
Abhimanyu

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2 Replies

Shivashish (Chartered Accountant) (2796 Points)
Replied 22 November 2013

I think it will be from 6th since the assessee does not come under the admit of provision of paying it by cash. So the due date for it will be 5th only.

Thanks

Abhimanyu Bind (CA Final Student & Audit Assitant) (2049 Points)
Replied 02 December 2013

Thank you Mr. Shivashish for your kind reply.

We raised the query by considering due date 6th of the month, reason is, client falls under mandatory e-payment of service tax hence, by defualt 6th will be the due date and for interest purpose we will take 7th.

Regards,

Abhimanyu