Dear Sir/Madam,
Service Tax payment for the month ending 30th September, 2014 is due for payment on 6th October, 2014 for all assessees. The e payment has become mandatory for all assessees w.e.f. 1st October, 2014.
However, if the assessees have paid taxes (including CENVAT Credit) of less than Rs. 1,00,000/- during the financial year 2013-14, they can pay their dues by any mode other than internet banking, if the payment is made within 30th September, 2014.
Rates of interest for delayed payment of Service Tax will be as follows:
|
Period of delay |
Rate of simple interest |
|
Up to 6 months |
18 % |
|
More than 6 months and up to 1 year |
18% for the first 6 months of delay and 24% for the delay beyond 6 months. |
|
More than 1 year |
18% for the first 6 months of delay; 24% for the period beyond 6 months up to 1 year and 30% for any delay beyond 1 year. |
3% concession will be available to small service providers having taxable turnover upto Rs. 60 lacs in the preceding financial year.
This is for your information.
Regards
Sushil Kr Goyal
CAclubindia
