Menu
Interest for late payment of service tax
Our firm is a private limited company. For the month of April, 2016 tax liability of Rs.436/- and for the month of May, 2016 tax liability of Rs.1,740/-this month i.e. June, 2016 our company pay total amount of Rs.2,176/- as service tax. How much interest to be added with total service tax and pay within which stipulated date.
Replies (3)
Interest on delayed payment of service tax is governed by section 75 of finance act,1994. Please refer to that.
From 01.04.2016, interest rate is revised and reduced to 15% in case of late payment of service tax. So, in instant case, if you deposit service tax on or before 06.06.2016 then service tax would be payable on the amount of April month only that is too for the period of one month.
| Originally posted by : Dilip Datta Choudhury | ||
 |
Our firm is a private limited company. For the month of April, 2016 tax liability of Rs.436/- and for the month of May, 2016 tax liability of Rs.1,740/-this month i.e. June, 2016 our company pay total amount of Rs.2,176/- as service tax. How much interest to be added with total service tax and pay within which stipulated date. |  |
Agree with the reply of HARSHAL
Regards
Karanjit Singh | +91-7503588224
Recent Threads
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
Related Threads
CAclubindia
