A professional whose gross receipts is Rs.8,00,000 (for asst.yr 2008-09) has recovered Service tax from his client @ 12.36. But he does not pay service tax to the goverment as his gross receipts is less than Rs.10,00,000.Is will be fined for not paying the tax. And what will happen if the gross receipt is more than 10,00,000.
Menu
recovery of S.T
Replies (2)
If he collected service tax from clients the amount belongs to the Goverment. The same should be paid along with interest.
| Originally posted by :Md.Mosharraf Ali Raza | ||
|
A professional whose gross receipts is Rs.8,00,000 (for asst.yr 2008-09) has recovered Service tax from his client @ 12.36. But he does not pay service tax to the goverment as his gross receipts is less than Rs.10,00,000.Is will be fined for not paying the tax. And what will happen if the gross receipt is more than 10,00,000.
Refer Section 73 A of Chapter V of Finance Act,1994. |
" | |
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
