12 March 2016
Kindly let me know the Service Tax liability,including interest/penalty, for Mandap keeper(ST registration yet to be done) FY 2011-12 mandap hiring charges Rs.1635500 Fy 2012-13 Rs.1545000 FY 2013-14 Rs.1745000 FY 2014-15 Rs.1825000 Thanks in advance
12 March 2016
I will answer the query starting with Penalty. The Penalty for non-registration is Rs.10,000/-. In addition if the default is a continuing one, a penalty of Rs.200/- per day subject to maximum of the service tax not deposited. Further for non filing of ST - 3 Returns a Late Fee of Rs.20,000 per return will be charged when filed. In the period under query a total of nine ST - 3 Returns were due. For the non-payment of due, if the payment is made voluntarily no penalty, if the Department has issued a notice then 25% of the tax amount provided the tax, interest and penalty is paid within 30 days of the service of notice, else at the discretion of the adjudication officer upto 100% of the tax payable.
In the first year i.e 2011 - 12 you are entitled to a threshold exemption of Rs.10 lakhs and hence tax would be payable on only Rs. 6,35,500/-.
The Service Tax inclusive Education Cess and SHE Cess works out as under: 2011 - 12 Rs. 63,405/-, 2012 -13 Rs.190,962/-, 2013 - 14 Rs.215,682/- and 2014 - 15 Rs.225,570/-.
Service tax ought to be deposited monthly in case of incorporated bodies and quarterly in case of others. Interest, unlike in Income Tax, is computed on the number of days delay in deposit of duty, and not for a month or part thereof. So unless the exact break of monthly turnover is available, exact interest cannot be computed. A rough estimate is given below: 2011 - 12 Rs.57,064/-, 2012 - 13 Rs.137,492/-, 2013 - 14 Rs.109,997/-, 2014 - 15 Rs.60,903/-.
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