Service tax

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accountant
77 Points Joined July 2013

Service Tax Payable on 31.03.2014 but paid on 01.04.2014 what will be the intrest amount & how to be calculate.............. please give me ans very urgent

 

priyanka

cma student

 

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On 01 April 2014 at 15:19 Report
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student
253 Points Joined January 2009
Service tax interest payable on delay of days. from the payment of due date to actual payment. Due date for Mar'14 was 31.3.14 and actual payment is 1.4.14 than interest will be payable for 1 day @ 18% per annuam. however, interest rate will be 15% if service tax liability not exceeds 60 lacs in a year.
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On 01 April 2014 at 15:26
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accountant
77 Points Joined July 2013

Can I Liable To Pay  service tax liability = 553359  i.e 553359 x 18/100 x 1 / 365 = 273 

that is right na........please help me.........

 

Priyanka 

cma student

 

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On 01 April 2014 at 15:38
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student
253 Points Joined January 2009

Yes, But difference of days is 2 days. 31 & 1st.

 

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On 01 April 2014 at 16:02
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accountant
77 Points Joined July 2013

Service Tax Payable on 31.03.2014 but paid on 01.04.2014 what will be the intrest amount & how to be calculate.............. please give me ans very urgent  

 service tax liability = 553359

please help me now

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On 01 April 2014 at 16:36
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CA
1186 Points Joined November 2008

Service tax delay interest payable for one day only ie 553359 x 18/100 x 1 / 365 = 273 

Provided u pay tax online by 8 Pm.............

 

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On 01 April 2014 at 16:52
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accountant
77 Points Joined July 2013

This is right na.......... becoz this service tax related to rnting of immovable property........

my query is pay monthly intrest or not........

 

ples tell me

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On 01 April 2014 at 16:57
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CA
1186 Points Joined November 2008

Refer rule 6(1) of Service Tax Rules, 1994 in following link

https://www.servicetax.gov.in/st-proc-home.htm

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On 01 April 2014 at 17:03
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accountant
77 Points Joined July 2013

I Know 18 % intrest per annum ........ but i calculate service tax on day wise or month wise ? ples help me i need to pay today..... give me perfect figure......... of intrest ........... some person ask me 553359 x 18/100 x 1/12 = 8300

& i calcualte = 553359 x 18/100 x 1/365 = 273 

what is right............ ples hurry up

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On 01 April 2014 at 17:11
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CA
1186 Points Joined November 2008
I think on Day basis here link too /experts/interest-on-late-payment-998105.asp#.UzqnfLnzuIU
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On 01 April 2014 at 17:17
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PARTNER
28 Points Joined March 2010
Day wise is correct
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On 01 April 2014 at 21:14
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PARTNER
28 Points Joined March 2010
Day wise is correct
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On 01 April 2014 at 21:16
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PARTNER
28 Points Joined March 2010
Service tax interest to be calculate on day wise.
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On 01 April 2014 at 21:19
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Student CA Final
45 Points Joined May 2013
For whole indirect taxation interest is on day basis.. Don't worry.
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On 01 April 2014 at 23:51
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Artical assistent
22 Points Joined June 2010
day wise is the rule .... sure
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On 01 April 2014 at 23:52


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