Service tax on penalty incurred due to late payment of rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 April 2012
Hello,
Could you please clarify if the service tax is payable on a penalty that has been incurred by a company, if the penalty has been incurred for late payment of rent.
Could you please clarify if the service tax is payable on a penalty that has been incurred by a company, if the penalty has been incurred for late payment of rent.
CA NIKHIL OZA
(Expert)
21 April 2012
As service tax is to be computed on gross amount charged which may be collected b4,during or after the completion of service...as such, such amount is to be grossed up for computation of s.tax..
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