CA CS Amit Borade (Chief Accountant) (2828 Points)
23 September 2009Interest paid for late payment of service tax , can be calculated as payment of service tax? For Tax Audit Pupose
Reply with any supporting Section / Case law / Circular.
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 23 September 2009
yes, interest paid on service tax is allowed to be write off from Profit & Loss A/c along with the amount of service tax as per sec. 43B(CERTAIN DEDUCTIONS TO BE allowed ONLY ON ACTUAL PAYMENT).
CAclubindia
