Remittance as on 31-mar-2012
This query is : Resolved
09 April 2012
We have raised one service invoice on 31st at 8pm and could not remit service tax on the same day. Is there any extension for this remittance.
09 April 2012
Dear Mr. Gangadharan,
If you have booked service income on 31st march 2012, then it should have been paid on or before 31/03/2012.
there is no extention or exemption.
If you have booked service income on 31st march 2012, then it should have been paid on or before 31/03/2012.
there is no extention or exemption.
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09 April 2012
Dear Mr. Amit: Can we remit with interest now and what is the percentage.
Thanks in advance
Thanks in advance
09 April 2012
Remit with Interest 18% p.a
09 April 2012
Yes, Interest rate is as follows-
If turnover of taxable service in preceding F.Y. exceeds rs. 60 lakhs then 18% otherwise it is 15%.
If turnover of taxable service in preceding F.Y. exceeds rs. 60 lakhs then 18% otherwise it is 15%.
09 April 2012
Agree with Amit and also penalty will be applicable @ Rs. 100 per day or 1% per month or part there of whichever is higher subject to a maximum of 50% of service tax liability w.e.f 08-04-11.
09 April 2012
Agree with Expert
09 April 2012
In your case, As pee my knowledge penalty will not be levied, since you have sufficient cause for not making payment of ST within time.
Generally, In such cases penalty is not levied.So, Do not pay the amount of penalty unless the department asks for it.
Thanks
Amit
Generally, In such cases penalty is not levied.So, Do not pay the amount of penalty unless the department asks for it.
Thanks
Amit
12 April 2012
Sir, is it ok whether I will remit the balance service tax as follows:-
10% ST Rs. 12178.55, ED Rs. 243.57 and Higher ED Rs. 121.79 + interest 1.5% Rs. 188.15. I am not remitting the penalty as per Mr. Amit's reply.
Thanks in advance
10% ST Rs. 12178.55, ED Rs. 243.57 and Higher ED Rs. 121.79 + interest 1.5% Rs. 188.15. I am not remitting the penalty as per Mr. Amit's reply.
Thanks in advance
13 April 2012
Calculate the interest for no. of days delayed @ 18% p.a(from 01/04/2012 to till date)
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