HELLO ALL
Whether interest on late payment of service tax can be adjusted against service tax input or not?
if not why?
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Service tax input
Replies (7)
Sir,
Interest canot to be paid through Cenvat Credit. Interest is paid only cash/bank as may be possible.
No.. Interest must payable thru CASH only and Interest paid under any circumstances (Excise, Service Tax & Customs), does not eligible to take Input Credit.
Interest is not an element on which one can take cenvat you have to pay by cash only.....
Is it compulsory to file ST3 and pay service tax even if billings are less than 10 lakhs where the assessee holds a service tax registration certificate?
There should be turn over accross 100000 lakh in f.y.
These are to be specifically paid in cash as Cenvat can only utilised for payment of specifica duties and Cess. So interest bieng not a duty or fees shallbe discvharged in Cash
TAhnks for all who share their view
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