Payment date of service tax under reverse charge
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2016
Payment date of service tax for an individual is 6th of the following quarter.
Payment date of service tax for a company is 6th of the following month.
The company takes the service of car hire from an individual. Under reverse charge mechanism, the company is liable to pay 40% of service tax for car hire. The company is liable to pay service tax for the very service only. What shall be the date of payment of service tax? Shall/Can it be paid in quarterly basis?
Payment date of service tax for a company is 6th of the following month.
The company takes the service of car hire from an individual. Under reverse charge mechanism, the company is liable to pay 40% of service tax for car hire. The company is liable to pay service tax for the very service only. What shall be the date of payment of service tax? Shall/Can it be paid in quarterly basis?
29 September 2016
No, Company has to pay Service Tax on monthly basis as service tax payment date as per the act provisions is 6th of next Month for Companies and whether it is in Direct Charge or Reverse Charge, That would not affect the payment date provisions.
Thanks
Thanks
30 September 2016
the date of payment of reverse charge not effected and company are liable to pay service
tax under RCM are 50% not 40% from 01.10.14 on wards please keep in this mind.
tax under RCM are 50% not 40% from 01.10.14 on wards please keep in this mind.
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