Hi all of you,
Can anybody tell me, how much interest & Penalty (Seperate) will be counted on service tax from Oct-2007(Service tax received in Oct-07from our client) while deposit challan in Oct-09. please describe me in detail.
Thanks
Sunil
Sunil Kumar Shrivas (Job) (232 Points)
24 September 2009Hi all of you,
Can anybody tell me, how much interest & Penalty (Seperate) will be counted on service tax from Oct-2007(Service tax received in Oct-07from our client) while deposit challan in Oct-09. please describe me in detail.
Thanks
Sunil
EKALABYA TALUKDAR
(SERVICE TAX CONSULTANT)
(666 Points)
Replied 28 September 2009
Originally posted by :Sunil | ||
" | Hi all of you, Can anybody tell me, how much interest & Penalty (Seperate) will be counted on service tax from Oct-2007(Service tax received in Oct-07from our client) while deposit challan in Oct-09. please describe me in detail. Thanks Sunil |
" |
PAYING INTEREST IS SELF ASSESSMENT SYSTEM
INTEREST RATE IS 13% FOR A YEAR, CALCULATE FROM THE DATE OF DEFAULTER TO THE PERIOD YOU ARE DEPOSITING MONEY
PENALTY WILL BE CALCULATED BY THE AUTHORITY
BUT STILL KNOW THE ACT = 76
Gautam Joshi
(Partner)
(361 Points)
Replied 02 October 2009
Hi Sunil,
Akalabya is absolutely right.
What I am suggesting is pay the penalty with interest. It would be benefitail as we should not in any way delay the government dues.
Live class on PF & ESI Enrollment & Returns Filing(with recording)