Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
 
Discussions Forum
Home Forum Service Tax
← Previous Next →

Interest of Late deposit of Service Tax Liability - Service Tax

Issue Id: - 3320
Dated: 26-8-2011
By:- PANKAJ GROVER
Interest of Late deposit of Service Tax Liability

  • Contents

Dear All

As the interest rate for late deposit of service tax liability has been increased from 13% to 18% w.e.f. 1st April 2011, whether it will be applicable for the period falling after 1st April 2011 or amount deposit after 1st April 2011. For Example: Liability of the Assesee is Rs 2L for September 2010, and it will be deposit the same this month i.e. August 2011, how will it compute its liability for interest like

From October 10 to March 11 - 13%

           April 11 to August 11 - 18%   OR

From October 10 to August 11  - 18%

Please reply asap.

Regards

RAPG & Co.

 

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 26-8-2011
By:- ROHAN THAKKAR

Dear Sir,

The interest on late deposit of service tax has been increased from 13% to 18% (15% for those assessee whose turnover in the previous year is less than Rs 60 lakhs) from 01-04-2011.

 

Consequently, interest on late payment upto 31-03-2011 will be 13% and from 01-04-2011, it has to be calculated at 18% (or 15% as the case may be)

 

Regards,

Rohan Thakkar

rohan@rthakkar.com


2 Dated: 27-8-2011
By:- DEV KUMAR KOTHARI

I agree with reply given by   shri Thakkar.


1

Old Query - New Comments are closed.

← Previous Next →


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map || ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version