Service tax late payment

Dear Ronak please don't mind but please frame your question properly.

Due date for payment of Service Tax is as follows for different person-

For Individual/Partnership

If paid Physically- 5th of the following quarter and 31st March for the last quarter. 

If Paid Online-      6th of the following quarter and 31st March for the last  quarter. . 

For Others-

If paid Physically- 5th of the following month and 31st March for the last month.

If Paid Online-      6th of the following month and 31st March for the last month. 

Interest Rates for the late payments are as follows-

Service Tax not collected and not paid- 15%

Service Tax collected but not paid-         24%

In case of assessee, whose value of taxable services in the preceeding financial year is less than Rs.60 Lakhs, the rate of Interest for  late payment of Service Tax in such cases would be 12%.

I hope the above clarification would be useful for you.

CA Sanjay Singh Khangarot 

Mr. Ronak if your have business which is

1. Properitorship and Partnership - Service tax payments due will be quarterly basis

2.Company and Limited Liability Partnerships - Service tax payments due will be on monthly basis.

In your case if you fall under

category 1 then there is no need to pay any interest - Because due date for last quarter will be on 31st March

Category 2 then you to pay interest - Because due date will be 31st March for March month.And interest will be calcuated @ 15% Simple Interest.

So if you fall under category 2 the total tax be payable along with interest is Rs. 100000+Rs.1767/- (Interest) = Rs.1,01,767/-.