Delay in Service Tax Payment

Page no : 3

(Guest)

can we deposit the service tax on 6th in case 5th is banking holiday?if yes pls advice circular no & date

(Guest)

Originally posted by :Guest
"	can we deposit the service tax on 6th in case 5th is banking holiday?if yes pls advice circular no & date	"

brijesh (accountant) (21 Points)
Replied 17 October 2008

Originally posted by :Guest
"	we have deposited our service tax rs 1161164/- on 31-03-08. but the cheque has been return by our bank due to some reason . now same cheque will be represented to our bank on 02-04-08. so what will be the interst amount for the delayed payment . as the bank is taking new challn from us which dated 02-04-08.	"

S. Madhanraj (Accounts Manager) (26 Points)
Replied 07 November 2008

If service tax in not paid with in the due date, what will be the interest payable on such belated payment.

OFFICESELVA (Service) (515 Points)
Replied 07 November 2008

Originally posted by :OFFICESELVA
"	Yes. Interest should be paid @ 13% p.a.	"

Already answered earlier.

Ashok Kumar Sharma (SERVICE) (20 Points)
Replied 27 November 2008

Originally posted by :Guest

Sir
Due to not having service tax registration Number and internet banking facility we could not deposit output service Tax ("Consulting Engineer") for the amount as detailed below :-

(i) Aug, 2007 - Rs. 12517/-

(ii) Apr, 2008 - Rs. 54441/-

Now the same have been deposited on 05.11.2008. Shall we pay any intrest, if yes how much if we shall pay the same in this month i.e. Nov, 08. Kindly advise separately for (i) & (ii) at the earliest.
thanks
ashok sharma

OFFICESELVA (Service) (515 Points)
Replied 29 November 2008

Before correctly working out the interest, please tell whether you are an individual/partnership or Pvt. Ltd.,/Ltd., company?

Smitha (Student) (32 Points)
Replied 29 June 2009

Originally posted by :OFFICESELVA
"	Interest works out to be Rs.827/- if the interest is paid on 02/04/2008.	"

the delay in payment of service tax attracts 1.5% p.m. as interest. it is immaterial with regard to number of days

Smitha (Student) (32 Points)
Replied 29 June 2009

Originally posted by :OFFICESELVA
"	Interest works out to be Rs.827/- if the interest is paid on 02/04/2008.	"

OFFICESELVA (Service) (515 Points)
Replied 11 July 2009

Originally posted by :Smitha
"	Originally posted by :OFFICESELVA " Interest works out to be Rs.827/- if the interest is paid on 02/04/2008. " the delay in payment of service tax attracts 1.5% p.m. as interest. it is immaterial with regard to number of days	"

No. The interest will be calculated @ 13% p.a. divided by 365 multiplied by no. of days(delay).

CA Aniruddha A Ghude (Partner- Kohale Ghude & Associates) (51 Points)
Replied 29 August 2009

I want to make sure one thing??

If i place 5th of any month as date on cheque & the same is realised on 7th of the same...

Thn which i should take as payment date??

Plz any one guide me..

EKALABYA TALUKDAR (SERVICE TAX CONSULTANT) (666 Points)
Replied 29 August 2009

Originally posted by :Ravishankar
"	Service tax amt is 262129/- acknowledgement date 7/2/08. What will be the interest amt pyble.	"

If your due date is 31 Jan 2008. You have to pay Rs 2,62,129.00 x 13% (Per Annum) + 365 (For a year) x 7 days (Penalty Period) = Rs 654.00. If for any reason 5th is SUNDAY and 6th is Govt declaired holiday you have to pay nothing.

rajendra reddy (CA -QUALIFIED) (21 Points)
Replied 23 February 2010

freight inward entry passed on 20th april-2009 for 100000. but for the same service tax was not paid till date. clearification required regarding whether interest to be calculated frm 20th april or frm 5th may.(i.e. due date)??????