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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Service tax
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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.
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
Yes, But difference of days is 2 days. 31 & 1st.
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
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.............
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
Refer rule 6(1) of Service Tax Rules, 1994 in following link
https://www.servicetax.gov.in/st-proc-home.htm
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
I think on Day basis
here link too
/experts/interest-on-late-payment-998105.asp#.UzqnfLnzuIU
Day wise is correct
Day wise is correct
Service tax interest to be calculate on day wise.
For whole indirect taxation interest is on day basis.. Don't worry.
day wise is the rule .... sure
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