Nikhil Kaushik (Fellow CA) (85743 Points)
20 November 2011Dear All,
One of my friend is offerring professional services ( Started in April 2010)
in FY 2010-11, he earned fees amounting to Rs 1725800.
He crossed the limit of Rs 10 Lakh in Nov 2010.
However, due to wrong advice by his CA, he didn't pay service tax.
Now, he has taken the service tax registration and is planning to clear the service tax dues.
Would be great if you could help me compute the amount of service tax liability plus the interest and penalities..
Regards
Nikhil
CA Sripal Jain
(Associate Finance)
(709 Points)
Replied 20 November 2011
hey the service tax liability is 177758 and penalty i can tel only if the default period is mentioned in your question,assume he dint pay service tax till march ...so from nov to march it comes to five months
therefore penalty is 200 per day or 2% whichever is higher
200*151=30200
177758*2% *5/12=17775
therefore 30200 wil be interest liability
regards
sripal jain
shobhit jain
(article)
(23 Points)
Replied 20 November 2011
shobhit jain
(article)
(23 Points)
Replied 20 November 2011
EKALABYA TALUKDAR
(SERVICE TAX CONSULTANT)
(666 Points)
Replied 28 November 2011
,
FROM FIRST APRIL 2011. THE RATE OF INTEREST IS MODIFIED TO 18% PAR ANNUM <> VIDE NOTIFICATION NO 4/2011 DATED 01.03.2011
.
AMIT GOYAL
(ACCOUNTANT)
(140 Points)
Replied 02 December 2011
WHAT WIL BE THE PENALTY OF SERVICE TAX IF THE SERVICE TAX NEITHER DEPOSITED NOR FILE SERVICE TAX RETURN.
PLS GUIDE ME.
shobharani.s
(Sr accounts Executive)
(40 Points)
Replied 07 March 2012
what will be the penalty of service tax or what is the rate of intrest for delayed pament?
kindly advice me please.
shobharani.s
(Sr accounts Executive)
(40 Points)
Replied 07 March 2012
What are the examption of TDS on Salary?
How we can calculate TDS on salary?
pls help me.
shobharani.s
(Sr accounts Executive)
(40 Points)
Replied 07 March 2012
what is the normal tax for salary?
Dear professionals ,
While reading Service tax for CA final I have come across a very strange and silly doubt
I know this may sound stupid to learned professionals but
PLESE CLARIFY
The levy of service tax derives its power from entry 97 of the union list(or entry 92-c in opinion of a few)
Chapter V of the Finance Act ,1994 enumerates the detail
Further Chapter V extends to whole of India except the state of J &K(JURISDICTION)
Thus services provided in J&K and OUT OF INDIA are not covered by the ambit of the charging section( as I was taught the place of providing service is the relevant place for deciding jurisdiction)
So, SERVISES PROVIDED OUT OF INDIA ARE NOT COVERD UNDER THE AMBIT OF THIS LEVY
Then, Why on earth have they framed “EXPORT OF SERVISES RULES” describing about which service is a service exported is understandable but if further talks about rebate and all
How can rebate be provided on serves which is not even livable to tax
Plese Help
EKALABYA TALUKDAR
(SERVICE TAX CONSULTANT)
(666 Points)
Replied 08 March 2012
DEAR MR AMIT GOYEL AND SOBHARANI <> RATE OF INTEREST IS 18%
PENALTY WILL BE (IF ANY) CALCULATED AFTER "HEARING YOUR VIEW AND CAUSE" BY THE SERVICE TAX AUTHORITY
TILL THEN NO PENALTY WILL BE CALCULATED
S.Sridhar
(EXIM Officer)
(21 Points)
Replied 24 July 2012
Dear all
St3 return not filed in last 5 years. and tax not paid. Now pay amount (2012 -2013) what is the interst % or what is the penalty amount.
Year
2007 - 2008
2008 - 2009
2009 - 2010
2010 - 2011,
2011 - 2012
Plerase Reply
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