banner_ad

Reverse charge mechanism

Queries 293 views 1 replies

I pay service tax on GTA services. Sometimes I pay local transporters in cash at factory. Now Iwant to know what is the treatment of service date with interest on late payment. Suppose I paid local transporter a sum of 20000 on 1.10.2015 and I passed the entry as

                                             carriage charges Dr.   20000

                                                 To cash at factory      20000

Now what is the service tax amount to b e paid and what will be the due date for interest calculation? Does interest on late payment calculate on monthly basis or day-to-day basis??

please answer me as per latest ammendments.

Replies (1)

Service Tax amount is Rs. 840/- (20000 X 30% X 14%)

Due date: Fifth of the next month in which entry has been made in your account.

Interest will be calculated day to day basis.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details