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Service tax late payment

ronak (M.Com) (55 Points)

28 February 2017

Dear Sir, Service tax for the month of jan2017 is 100000 but still the date of 28-2-17 not paid to gov't so what is the interest rate paid and finally what amount i liable to pay. and one more thing if i pay service tax in 15-3-2017 so what payable amount

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2 Replies

CA Sanjay Singh Khangarot (CA, CWA, CS) (2 Points)
Replied 28 February 2017

Dear Ronak please don't mind but please frame your question properly.

Due date for payment of Service Tax is as follows for different person-

For Individual/Partnership

If paid Physically- 5th of the following quarter and 31st March for the last quarter.

If Paid Online- 6th of the following quarter and 31st March for the last quarter. .

For Others-

If paid Physically- 5th of the following month and 31st March for the last month.

If Paid Online- 6th of the following month and 31st March for the last month.

Interest Rates for the late payments are as follows-

Service Tax not collected and not paid- 15%

Service Tax collected but not paid- 24%

In case of assessee, whose value of taxable services in the preceeding financial year is less than Rs.60 Lakhs, the rate of Interest for late payment of Service Tax in such cases would be 12%.

I hope the above clarification would be useful for you.

CA Sanjay Singh Khangarot