VINAY SHARMA (ARTICLE ASSISTANT) (108 Points)
28 March 2014
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 28 March 2014
VINAY SHARMA
(ARTICLE ASSISTANT)
(108 Points)
Replied 28 March 2014
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 28 March 2014
Deepak Gupta
(CA Student)
(15922 Points)
Replied 28 March 2014
Because w.e.f 01.01.2014, threshold limit for mandatory e-payment of service tax has been reduced to Rs. 1 Lakh.
-- Notification No. 16/2013-ST, dated 22nd November, 2013.
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Moreover, where the assesee fails to make the payment electronically, shall be liable to a penalty which may extend to Rs. 10,000 w.e.f. 08.04.2011.
-- Sec. 77(1)(d) of the Finance Act, 1994.
Suman Bartwal
(Student CA Final )
(21 Points)
Replied 28 March 2014
sanchit
(none)
(39 Points)
Replied 28 March 2014
Deepak Gupta
(CA Student)
(15922 Points)
Replied 28 March 2014
Earlier when e-payment was made mandatory for all assesses who had paid Rs. 50 lakh or more, at that time the department had clarified the interpretation of qualifying amount of service tax paid by the assessee vide Circular No. 88/06/2006-ST, dated 06.11.2006.
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In Para 3.3 of the said circular, it was mentioned that,
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3.3 Further, for the purposes of calculation of this amount of Rs 50 lakh the total service tax paid by cash plus CENVAT credit would be taken into account as service tax paid amount. Therefore, if an assessee has paid service tax of Rs 50 lakh (in preceding financial year or the current year) in cash plus CENVAT credit, such assessee, if he pays any further service tax in cash, would be required to make mandatory e-payment.
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Hence, I opined that the limit shall be applicable for current year as well.
VINAY SHARMA
(ARTICLE ASSISTANT)
(108 Points)
Replied 29 March 2014
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 29 March 2014
| Originally posted by : VINAY SHARMA | ||
 |
If I pay service tax through others net banking account then can such other person claim expense as service tax because this payment will appear in his bank statement? |  |
no, he can't claim it as expense, since it is not related to him. Yes, the payment is appear in his bank account, but same amount also credited in his account because for making payment of service tax of that person, that person give cheque to him for making payment. Only the income which he charge from that person for making payment of service tax is become part of taxable income.
VINAY SHARMA
(ARTICLE ASSISTANT)
(108 Points)
Replied 29 March 2014
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 29 March 2014
Yes, sir it is confirm. Your father can claim the Service Tax payment although you make the payment of same and make sure you received the cheque of same amount from your father.
CAclubindia
