NR without PE gave invoice ₹212765 (₹2L+6%EL) on 17/9/21.
Resident service receiver paid the consideration on 10/11/21 without deduction of EL @ 6%.
Resident realised the mistake and paid the EL along with interest and penalties on 30/3/22
what is the total amount it has to pay to CG on 30/3/22?
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Equalisation levy @6
Replies (1)
The resident is liable to pay a total of ₹24,480 to the Central Government. This comprises the ₹12,000 principal Equalisation Levy, ₹480 in interest for the four-month delay (December through March), and a ₹12,000 penalty for failing to deduct the levy at the time of payment as required by the Finance Act, 2016.
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