Does we have to pay interest
This query is : Resolved
13 April 2012
Dear Sir,
We have raise a service tax bill on provision bill bill date is 31/03/2012. complelted on 4th april. now we have to pay service tax to govt does we are liable to pay interest on service tax. if yes then what %.
We have raise a service tax bill on provision bill bill date is 31/03/2012. complelted on 4th april. now we have to pay service tax to govt does we are liable to pay interest on service tax. if yes then what %.
13 April 2012
In this case of point of taxation is the date of invoice. You were supposed to pay service tax on 31.03.2012 itself. You will have to pay interest for delay in payment from 01.04.2012 to date of payment at the rate of 18%(15% in case turnover does not exceed Rs. 60 Lacs in previous F.Y.). Calculation to be made in days
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