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POT RULES - REVERSE CHARGE

Service Tax - Started By: - SARVESH BANSAL - Dated:- 4-5-2016 Last Replied Date:- 6-5-2016 - Dear SirWe had received bill from transporter pertains to Dec 15 & Jan 16 and their payment is made on April 16. We are paying Service tax on GTA under r .....

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of three months.My question is that Whether bill pertains to Jan 16 (date of Bill 15 Jan 16) is liable for interest ?How to calculate interest ? and What is the rate of interest in this case whether is it 15% or 18% - Reply By KASTURI SETHI - The Re .....

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. - Reply By KASTURI SETHI - The Reply = SH.SARVESH BANSAL JI, Whether rate of interest is at the rat of 15% or 18 % ? We have to calculate a period of three months (calendar year-wise and month-wise) First instance Period three months Date of bill 1 .....

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ayment 21.4.16Details of period taken in stead of three monthsDec.,15 = 25 daysJan.,16 = 31Feb.,16 = 29 Mar.,16 = 31April,16 = 20Total= 136 days allowed 91 days = Delay by 45 days Rate of Interest @18% For 25 days in March,16 @ 15% 20 days April, 16 .....

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period of delay prior to 1.4.16. - Reply By KASTURI SETHI - The Reply = Sh.Ganeshan Kalyani Ji, You are right Sir. In Service Tax rate of interest has been reduced to 15% vide Notification No.13/16-ST dated 1.3.16 but it shall come into force from th .....

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Finance Act, 1994 - Notification No. 12/2014-S.T. superseded In exercise of the powers conferred by section 75 of the Finance Act, 1994 (32 of 1994) and in supersession of the notification No. 12/2014-Service Tax, dated the 11th July, 2014, publishe .....

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