A firm has defaulted to deposit its entire service tax liability for Q2 2015,i.e Rs.35000 was pendind to be paid & will payable on nov,2015.
Firm filed its return without showing its service tax turnover for service tax collected Rs.35000.
Now, can firm voluntarily deposit such defaulted amount with interest @ 15%(T.O-PY-28,lacs).
1.Do firm need to pay penalty to settle this default (without anyorder/letter from dept.)
2.How interest will be shown in revised return,how no of days to be computed
(can i take due of payment as 6th oct as due date since firm usually pays online)
3.Do firm need to quote notification/rule providing concession of 3% for small service providers in revised return.
CAclubindia
