What is the due date for payment of service tax?
If the service tax payment is paid electronically through internet banking, then service tax payments are due on the 6th of every month and 31st of March. If service tax payment is paid by any other manner, then service tax payments are due on the 5th of every month and 31st of March for One Person Company (OPC).
What is the interest rate for late payment of service tax?
Interest Rates Applicable till 13.5.2016
| Period of delay | Interest rate charged |
|---|---|
| Upto 6 months | 18% |
| 6 months to 1 year | First 6 months 18% Remaining period 24% |
| More than 1 year | First 6 months 18% Next 6 months 24% Balance period 30% |
Is service tax still applicable in India?
The Government of India has levied the services taxes on the services rendered by restaurants. Service tax is one of many taxes that are now replaced by GST.
What is the penalty for non filing of service tax return?
The penalty for late filing of service tax return is capped at a maximum of Rs. 20,000 and is subject to the number of days delayed. More than 31 days delay in filing service tax return – Rs. 100 per day of default.
What is the time limit for service tax notice?
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi Bench ruled that the period of limitation to issue notice increased from 1 year to 18 months for raising demand for non-payment of service tax.
How can I pay my service tax penalty?
Section 78: Penalty for failure to pay service tax by reason of fraud, etc….Section 70 (1) late fee for delay in filing the return.
| Actual Date of Filing | Particulars | Late Fees |
|---|---|---|
| For 220 Days | Beyond 30 days (1000 ) + (190 Days X 100) | 20000 |
| Beyond 220 Days | The Penalties shall not exceed Rs.20000 | 20000 |
What is current service tax?
2016 Union budget of India has proposed to impose a cess, called the Krishi Kalyan Cess, at 0.5% on all taxable services effective from 1 June 2016. The current service tax is at 15%.
Can penalty under service tax be waived?
Service Tax Penalty Relaxation after Order However, under the new provision, 75% of the penalty can be waived, if service tax payment and interest due is paid within 30 days of order. In case of fraud, 75% of the penalty can be waived, if service tax payment, interest due 25% penalty is paid within 30 days of order.
Can service tax notice be issued now?
Angad Sandhu, Partner, PSL Advocates & Solicitors, told Moneycontrol: “Show cause notices for enquiry up to 5 years can only be issued in cases where service tax has not been paid due to fraud, collusion, wilful misstatement or suppression of facts, which was admittedly not the case in the SCNs being issued.
How can I deposit service tax now?
The taxpayer will login to the net-banking site with the user ID/ password provided by the bank for net-banking purpose and enter payment details at the bank site. On successful payment, a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made.
Is it optional to pay service tax?
In 2017, the government had said, “As per the approved guidelines on service charge, service charge is totally voluntary and not mandatory now. Hotels and restaurants should not decide how much service charge is to be paid by the customer and it should be left to the discretion of the customer.”
Can service tax be paid now?
As you are aware, currently taxpayers are making payments of Central Excise duties and Service Tax arrears through EASIEST Portal, DG Systems has now integrated payments of CE & ST with ICE GATE portal and the new payment gate way portal “CBIC (ICEGATE) E-payment” will be operational w.e.f., 1st July, 2019 onwards.
How do I pay old service tax due?
e-payment through EASIEST: Under EASIEST, the assessee is required to access the NSDL-EASIEST website, https://cbec-easiest.gov.in/EST/ and select the option, E-Payment (Excise & Service Tax).
What is the turnover limit for service tax registration?
Rs.9 lakhs
All service providers in India are required to obtain service tax registration once the annual aggregate taxable services revenue exceeds Rs. 9 lakhs. Service tax payment or liability accrues once the aggregate value exceeds Rs. 10 lakhs.
Can we pay service tax now?
What is extended period of limitation in service tax?
five years
The said limitation of one year will be extended to five years to the department where any service tax has not been paid or has been short paid or short levied or erroneously refunded by reason of? contravention of any of the provisions or the rules with intent to evade payment of service.