Respected Sir,
How to calculate interest on following Service Tax Payment.
| Month | Due date | Paid date | ST paid | ST Payable | Difference | Delay days | |
| April | 05/05/2011 | 05/05/2011 | 31469 | 105423 | -73954 | ||
| 04/06/2011 | 25000 | -73954 | -48954 | ||||
| 14/06/2011 | 41200 | -48954 | -7754 | ||||
| 07/07/2011 | 23280 | -7754 | 15526 | 6/5/11 to 7/7/11 | 62 Days |
Dear Kishan,
Interest has to be paid on amount of service tax paid after due date for the period of delay. Even if a part of tax is not paid in time interest is to be paid on that part. In my opinion interest has to be calculatedas follows:
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Dear Sir,
I want to know that if a company did not pay his service tax from 1-April-2011 to till date than how can we calculate the interest on service tax. Which we use in excel i am not getting please help me.
i mean to say how many coloumns are required in prepration of this report.
CAclubindia
