Dear all,
One of the client is liable to pay service tax on director's remuneration under reverse charge mechanizam, but they have not paid for past 174 days. Should they pay any penalty and interest. If yes, please give me the details.
Thanks & Regards,
Satheesh B
You should pay interest as per Section 75 of Finance Act 1994 as amended. You may wait for SCN from Dept. for penalty payment.
Regards,
T R SOOD & CO
New Delhi
CA Inter
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Shyam Joshi & Associates
Pune
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
