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SERVICE TAX ON ROYALTY - Service TaxExtract DEAR EXPERTS, I HAVE TWO QUERIES. 1. SHOULD WE PAY SERVICE TAX ON ROYALTY PROVISION BASIS OR PAYMENT BASIS UNDER REVERSE CHARGE MACHENISM. 2. WE HAVE PAID SERVICE TAX ON ROYALTY THROUGH CENVAT CREDIT BUT UNDER REVERSE CHARGE MACHENISM SERVICE TAX DEPARTMENT RAISE A DEMAND THAT WE SHOULD PAY SERVICE TAX ALONWITH INTEREST FROM 2007. WE ARE READY TO PAY SERVICE TAX CASH BUT WHY WE DO PAY INTEREST.ULTIMATELY WE HAVE PAID SERVICE TAX WHEATHER IT IS CENVAT CREDIT BUT NOT CASH. PLEASE ADVICE HOW CAN WE SAVE OUR INTEREST. THANKS
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