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Service tax due date quarter ending march

CA Dheeraj Bansal (Chartered Accountant) (652 Points)

01 April 2012

Service tax due date for quarter ending march is 31 march. But how is it possible to deposit the service tax up to 31 march on 31 march itself as the calculation take some time. If i have a 10 clients then how can i compute and pay service tax in time. So plz suggest me any provision regarding payment at later date.

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9 Replies

Rakshit (practising) (338 Points)
Replied 01 April 2012

Only, you have to pay interest @ 18% per annum on number of delays

Regards

Raksh*t

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CA Dheeraj Bansal (Chartered Accountant) (652 Points)
Replied 01 April 2012

But the law does not make any provision for the hardships faced by assessee

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 01 April 2012

Yeah..i know...nothing can be done....

We also paid off our Service Tax dues yesterday at 10.30 P.M. ...

(Guest)

DEPOSIT THE AMOUNT ON ESTIMATE BASIS.IF U HAVE DEPOSITED EXCESS,U CAN SHOW THE SAME WHILE FILING SERVICE TAX RETURN AND CARRY FORWARD IT TO NEXT MONTH TO BE ADJUSTED AGAINST APR MONTH SERVICE TAX PAYMENT.THIS ID DONE AS PER USUAL PRACTICE.

Valerian Dsouza (Manager Audit & Taxation) (413 Points)
Replied 01 April 2012

Now assessee no option but to pay tax before the due date. It is very unfair on the part of Law makers. Unless trade and industry send representation to Government and demand fair deal, nothing happens. When Govt. could change POT rules, payment of taxes on accrual basis like in the case of VAT, due dates for payments/filing also should have been relaxed like VAT.

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Abhishek Sharma (CA Final) (78 Points)
Replied 02 April 2012

These feeling & hardship is faced by many. Its better to valuate the same in the last week of March & pay in lump sum, if cant calculate in exact. the difference can be paid later alongwith intt @ 15% or 18% as applicable.

Some relaxation should be bought in by the Govt.

CA PRAVEEN SINGH (MANAGER ACCOUNTS) (2277 Points)
Replied 02 April 2012

YOU CAN DEPOSIT THE AMOUNT ON ESTIMATE BASIS.IF U HAVE DEPOSITED EXCESS,U CAN SHOW THE SAME WHILE FILING SERVICE TAX RETURN AND CARRY FORWARD IT TO NEXT MONTH TO BE ADJUSTED AGAINST APR MONTH SERVICE TAX PAYMENT.THIS ID DONE AS PER USUAL PRACTICE.

1 Like

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8310 Points)
Replied 02 April 2012

Originally posted by : CA PRAVEEN SINGH
	YOU CAN DEPOSIT THE AMOUNT ON ESTIMATE BASIS.IF U HAVE DEPOSITED EXCESS,U CAN SHOW THE SAME WHILE FILING SERVICE TAX RETURN AND CARRY FORWARD IT TO NEXT MONTH TO BE ADJUSTED AGAINST APR MONTH SERVICE TAX PAYMENT.THIS ID DONE AS PER USUAL PRACTICE.