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Due Date for Payment of Service Tax 2017. What is the due date for payment of service tax?. Service Tax Return Filing Due Date 2017. Service tax Payment Due Date for ay 2017-18. service tax interest rate due date, Procedure for service tax late payment interest Calculation. Due date for payment of service tax pdf, due date for payment of service tax return, Service Tax Due Dates 2017. In this article you may find everything related to Payment of Service Tax like – Due Dates for Payment of Service Tax, Compulsory ECS payment, Exception from POT Rules, Can Service Tax be paid in Advance?, What is the Manner of Payment of service tax?. Next Service Tax Return Filing Due Date is 25th April 2017.
Please Note – Due Date for Payment of Service Tax for monthly, Quarterly or Half Year ending on 31.03.2017 is – 31-03-2017, Please Deposit Tax Before 31st March, 2017. Check Other Months Due Date (Except March Ending) From Below….
As per Rule 6(1) of Service Tax Rules, the service tax shall be paid to the credit of the Central Government before the following due dates
Particulars Company, AOP’s, HUF Individual / Proprietary firm or Partnership firm Duration Month in which the service is deemed to be provided as per the POT rules Quarter in which the service is deemed to be provided as per the POT rules Payment by ECS: 6th day of the following month 6th day of the month following the quarter Payment by any other mode 5th day of the following month 5th day of the month following the quarter Month / quarter ending march 31st March 31st March Compulsory
Exception: – Service Tax Collected for the month/quarter ending March shall be payable by 31st March of the said calendar year.
Interest Rate for Financial Year 2017-18
Conditions Rate of Interest Service Tax collected but not deposited to the exchequer 24% Other Cases 15%
If in case the value of taxable services of preceding year does not exceeds Rs. 60 Lakhs, then the rate of interest on late payment will be 12%.
[The above changes will come into effect on the day the Finance Bill receives the assent of the President.]
Late Fees For Delay In Filing Service Tax Return
If the Service Tax Return is not filed before the due date of filing of Service Tax Return, Late Fee shall be liable to be paid as follows
Delay in Filing of Return after Due Date Late Fees First 15 days Rs. 500 15-30 days Rs. 1000 More than 30 days Rs. 1000 + Rs. 100 per day beyond 30 days The Maximum Late Fee payable is Rs. 20,000
Mandatory ECS installment:
Each assessee is required to pay impose electronically. Air conditioning or DC of Central Excise may for motivations to be recorded in composing, enable the assessees to store the administration impose by any mode other than web saving money. (N/N 9/14 w-e-f 1-10-14)
Special case from POT Rules
People and Partnership firms whose total estimation of assessable administrations gave from at least one premises is < or = Rs. 50 lakhs in the past FY: The specialist co-op should have the choice to pay impose in the current money related year on genuine receipt premise on estimation of assessable administrations gave or consented to be given by him up to an aggregate of Rs. 50 lakhs.
[Means installment is to be made with reference to month or quarter in which installment is gotten and not on the premise of POT rules.]
Could Service Tax be paid in Advance?
According to Rule 6(1A) each individual at risk to pay benefit charge, may, all alone volition, pay a sum as administration impose ahead of time, to the credit of the Central Government and alter the sum so paid against the administration impose which he is subject to pay for the consequent period: In such case the assessee might,-
(I) imply the points of interest of the measure of administration assess paid ahead of time, to the jurisdictional Superintendent of Central Excise inside a time of 15 days from the date of such installment; and
(ii) demonstrate the points of interest of the propel installment made, and its change, if any in the ensuing come back to be recorded under area 70 of the Act.
What is the Manner of Payment of Service Tax ?
According to Rule 6(2), the assessee should store the administration impose with the bank assigned by CBEC, by utilizing GAR-7challan
On the off chance that the expense is paid with check, date of introduction of check to the bank might be esteemed to be the date on which benefit impose has been paid subject to acknowledgment of that check