total tax liability for the month of aug-12 is 42000, in sep service tax input credit is 7000/- and now we are planning to pay service tax liability. how can i calculate the late interest charges plz give suggestion.
thnx in advance........
3 Replies
CA Manish
(Job)
(5264 Points)
Replied 14 December 2012
Rate :- 18% p.a.
Calculation :- day basis.
Period :- from the due date to date of payment.
Mallikharjun
(Deputy Manager)
(304 Points)
Replied 14 December 2012
I think that september month credit cannot be adjusted against August month liability. Hence you need to pay full Rs. 42000/- along with interest. Interest shall be calculated @ 18% from 01.09.2012 to till the date of payment.
rahul
(owner)
(34 Points)
Replied 14 December 2012
CA MANISH JI
PLZ EXPLAIN ME WHAT I HV 2 PAY 35000+ INT ON 35000(FROM 5.9.12 TO TILL) OR 42000+INT ON 42000(FROM 01.9.12 TO TILL)
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