Dear All,
Can anyboyd solve this issue.....:( ?
In our company, we used to pay the service tax when we realize the amount for the invoice we raised earlier instead of paying the tax within the month irrespective of realizing the payments. But when we pay the tax returns for quarterly, we calculated the interest and paid. Now we got notice for penalty for late payment of service tax.
Now, I would like to know the process for calculate the penalty for late payment of service tax? it the due date is 05/07/2012 for service tax, we paid some payments even in sep, oct & nov. In this case, what amout should we pay as penalty?
CAclubindia
