Ajay s (Accounts Officer) (243 Points)
29 January 2011Dear All
We have a service tax liability of Rs.283568/- due date 05.12.10 but paid on 20.01.11 so we are liable to pay interest
Rs.4646/-. But my question is , Is it possible to adjust this interest in input credit ?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 29 January 2011
no , interest and penalty / fine should be paid in cash only,
input credit is to be used for payment taxes only.
Ajay s
(Accounts Officer)
(243 Points)
Replied 29 January 2011
Is it possible to adjust any excess tax /interest paid in future
CAclubindia
