Dear All,
I would like to know if Service Tax is payable on interest if the same has been levied on a Taxable service, as a fine for delayed payment?
Thanking You for your time
Tushar Singhania
CA Tushar Singhania (Asst. Manager Accts & Fin.) (402 Points)
01 July 2011Dear All,
I would like to know if Service Tax is payable on interest if the same has been levied on a Taxable service, as a fine for delayed payment?
Thanking You for your time
Tushar Singhania
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 01 July 2011
yes, gross receipt amount is subject to service tax.