if we don't pay the interest u/s.75 of service on late payment of service tax than what sort of actions department may take
4 Replies
S Saravanan
(Chief Financial Officer)
(473 Points)
Replied 26 August 2010
Under section 87 on the Finance Act, 1994 provisions for recover of any amount due to Central Government is listed. The following is the recovery mode.
- Deduct the amount from any refund with Central Excise Department
- Direct any debtor of the company to pay the department instead of the company
- Distrain any movable or immovable property
- Collector of the district maybe directed to collect the amount as if it were an arrear of land revenue
Regards
S Saravanan
radhika rawat
(student)
(93 Points)
Replied 28 August 2010
may i know what is the rate of interest for late payment of service tax u/s-75
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