Regarding some Provisions of Service Tax

The One Says:

Sumit I can give you some brief idea:

Return to be filed within 25 days of end of half year; (ST3 and TR6)

Service tax is paid/collected only on payment received;

Penalty higher of 2% per month or Rs. 200 per day restricted to amount of service tax.

Hope it helps.

Thanks for the reply

But i want to know that return for the last half i.e. ending on 31st March is required to be filed By 31st March only??

and if you have not arrived at the last month figure of service tax, then how the amount of service tax can be exactly estimated??

If we have not received any payment for the month of March in March and if this payment is received say in May then we have to deposit the service tax only latest by 5th June. Am I right?

Kindly help me on these issues as I am little bit confused about service tax for the end months?

Thanks for quick response received from you.

The One Says:

I have posted you an answer - since its specifically for you through pm.

In continuation with the discussion, I want to know, what will happen if i fail to pay the service tax on 31st day of march?
Return is i understand can be filed before 25th of april, no doubt.
But if i can not go to pay the s.t. on 31st march, how much will be the penalty? Is it just as narrated above 200/- per day or otherwise.
Personnaly i think, the s.t. after few days with the regular interest of say 2% can be paid. Am i right?
As it i not possible to view the P.M. to [b]sumit1122[/b], i request all to put their views here publically.

How much is the penalty for late filing of service tax return?

for late deposit of service tax its interest of 13% p.a and for late filing of return its penalty of Rs 1000 per return.............................

Hi Shipra

Thanks for replying.

Bye

Sumit

The One Says:

Sumit I have sent you pm with detailed information on this subject.