Interest on service tax calculator 2015-16
Interest on Delayed Payment of service tax is changed by Budget for the Financial year year Total — Rs. My Saved Articles Sign in Sign up. The rules are such that even if you have not collected the amount you need to pay the service tax. What will be interest rate for this FY ? Hi we are Private Ltd company did sub contract to BGR energy we are regular in paying service tax where as for the bills claimed to BGR on fabrication and erection work we received the payments delayed and soon as we received payment from BGR we played the service tax. Sorry, your blog cannot share posts by email. I received payment for an invoice of value Rs.
Interest calculator for delay in payment of service tax is attached which can calculate interest in one shot for different period.
Interest is levied on. As we all know that with effect from rate of interest on delayed payment of service Tax has been revised based on delay and.
Income Tax Calculator
Please confirm the rate of interest on late payment of service tax e g April amt Please check out the "Service Tax Late Payment Interest Calculator wef.
I have not paid any ST till date.
The Finance Budget had amended the provisions of Section 75 of the Finance Act, and had proposed that a higher rate of interest would apply to a person who has collected the amount of service tax from the service recipient but not deposited the same with the Central Government. I have bills raised in between 4th July to 12th September Subscribe Newsletter.
Dear Sir, I have to pay service tax for the month of July on Situation other than above.
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Download Service tax interest calculation for F.Y file in xlsx format
Format: Turnover during the Previous Financial Year 8, INTEREST ON LATE PAYMENT OF SERVICE TAX NOTE: AFTER ( A) DELAY UPTO 6 MONTHS: 18% (B) DELAY BEYOND 6. Calculate gross value, gross charges and service taxes in India. Input gross amount that does or does not include taxes, service tax rate and education Cess tax.
Amendment under Section 91 of the Finance Act, Section 78A of the Finance Act, deals with the penalty on any director, manager, secretary or officer who is engaged in the day to day operations and conduct of business and was knowingly party to the contravention made by the organization which may extend to one lakh rupees.
But if it does not make any significant difference then you can igore this.
Interest on late payment of service tax
Service tax collected in month of may Rs- could you please help me calculate the interest? Click here for Changes in direct and Indirect Taxes by Budget Hi Prasad, You are right, you need to take care of effective dates of the various slabs and calculate your interest accordingly.
If you do not find the relevant services therein, then you need to add it to your certificate by modifying it.
The service tax interest you can pay by referring the example given in above article.
Hi, You need to check, whether you are small service provider or not. Budget IIMs to get refund on service taxes paid between and
Financial Year Section 73 of the Finance Act, deals with recovery of Service tax not levied or paid or short levied or short paid or erroneously refunded.
Your Reason has been Reported to the admin.
If you do not find the relevant services therein, then you need to add it to your certificate by modifying it.