29 October 2010
Our client require to pay service tax quarterly, liability for april -june qtr is 4.5 lacs and he has paid 4.00 lacs on 5th july , liab for july-sep qtr is 3.5 lacs and he has paid 4.00 lacs , what will be the interest and penalty? , we are under audit of service tax currently
29 October 2010
Pay the interest @13% p.a till the date of payment of service tax (i.e till Oct 4 if you have paid the st on Oct 5 for second qtr) and penalty 200 per day or 2@ per month w.e.h till the date of payment.
CAclubindia
