TMI BlogPayment of Service TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... oliday Service tax is liable to be deposited by the 5 th (or 6 th ) of the month following the calendar month or quarter, as the case may be. The problem arises, if there is a public holiday on the last due date of payment of service tax. In these circumstances, a person can deposit the service tax on the next working day immediately following the holiday. Also see circular no. 63/12/2003 St dated 14/10/2003 . For filing of Service Tax return also, the same rule will apply. Reference may also be taken from Negotiable Instrument Act, 1881 . As per Negotiable Instrument Act, 1881 - When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see is required to deposit GAR-7 Challan for payment of the service tax only with the designated banks and branches thereof. The bank and branches thereof are designated by the board and respective commissioner. The assessee should ensure that service tax is paid only in the designated branch of the bank authorized to accept the payment of service tax. If the payment is tendered in the branch, which is not designated, then no credit shall be given to the assessee for the payment of service tax made by him. ================= F. Rounding off of service tax Shall be rounded off nearest to rupee. Section 83 of the service tax act read with section 37D of the Central Excise Act, 1944 . ================= G. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ================= I. Interest on late payment of Service Tax As per Section 75 , where a person is liable to pay service tax u/s 68 and fails to credit the tax or any thereof to the account of the Central Government within the prescribed time limit shall pay simple interest as prescribed in notification issued by Central Government. Detailed provisions have been discussed in Chapter- Interest Penalty. ================= J. Payment of Service Tax through ..... X X X X Extracts X X X X X X X X Extracts X X X X
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