Hi friends I have a query regarding Sec.89(1)(d) of finance act 1994 which states that collects any amount as service tax but fails to pay the amount so collected to the credit of the Central Government beyond a period of six months from the date on which such payment becomes due.
My question is that if an assessee (pvt.ltd.Company) recives their service fees after 45-60 days as per standard agreement but as per POT rules they shows their ST liability in their ST-3 return as per billing basis ,then how this 6 months will be counted as per the above provision ...is it from the due date that is 5th of next month or the date from actual collection?
Please advice
CAclubindia
