09 February 2012
I have collected the service tax on 25-Aug-2011 but did not made the payment on 05-sep-2011. so i want to know whether penalty attracts for this.
09 February 2012
For your kind information now service tax is payable on accrual basis means at the time of provision of service or issue of invoice as per Point of Taxation Rules, 2011 except agst 8 specified services provided by individual or partnership firm.
Please ensure the same while paying service tax.
Anyways, if u failed to deposit ST in time then you need to deposit ST along with interest @ 15% or 18% as the case may be.
CAclubindia
