21 January 2014
Dear Friends, Pls.clarify my interest calculation on late payment of Service Tax July 13 to sep. 13 and oct. 13 to dec. 13 service tax payable is planning to pay on 21st Jan. 2014 I have given below my workings for 2nd quartr due date is 6th oct. 13 is due date and 21st jan 2014= 108 days Hence , Amount payable x 108/365 x 15% = Tax Liability as on date. And for Oct. 13 to Dec. 13, due date 06th Jan.14 to 21st Jan. 14= 16 days Hence , Amount payable x 16/365 x 15% = Tax Liability as on date.Pls.confirm my workings.
And in the case of int. Pymnt, int. On cess will also be mentioned in their code (i.e. Tax code 410, int. Code 411, e.cess code 298, int. On cess code 299 nd shec code 426, int. On shec code 427)????
21 January 2014
If you are small scale service provider then your calculation is correct and if you are not small scale service provider then rate will be 18% instead of 15%
CAclubindia
