It's Urgent
IS there any interest or penalty if the company is paying monthly service tax in offline mode, where as e-payment is mandatory for such company????
Thank You
Deepak Gupta
(CA Student)
(15922 Points)
Replied 07 November 2013
Any person who is required to pay tax electronically, through internet banking, fails to pay the tax electronically, shall be liable to a penalty which may extend to Rs. 10,000, w.e.f. 8.04.2011 – Section 77(1)(d).
CA. Narottam Kumar Rawat
(Indirect Tax Consultant)
(394 Points)
Replied 08 November 2013
Dear Smruti,
As per Proviso to Rule 6 (2) of Service Tax Rules , "where an assessee has paid a total service tax of rupees ten lakh or more including the amount paid by utilisation of CENVAT credit, in the preceding financial year, he shall deposit the service tax liable to be paid by him electronically, through internet banking.
In case your company has paid more than 10 lac service tax in last year you are liable to pay service tax electronically.
In case of default a penalty up to Rs. 10000/- can be imposed as per Section 77(1)(d)
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