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Frequently asked question on Service Tax Payments

Today we will discuss the frequently asked question on Service Tax Payments, who has to pay the service tax, Due date of service tax payments, Interest and Penalty for not filing the service tax payments.

 Applicability of Service Tax Payments

(Every Assesse has to registered under service tax when he crosses the limit of 9 lacs. Every assesse has to pay the service tax if he crosses the limit of 10 lakhs.

Due Date of Service Tax Payments

 Due Date of Service Tax Payments for Company

Company incorporated under companies act,1956 wheather private or public has to pay tax in case of physically submitting to bank on or before 5th of the next month. In case of online payment on or before 6th of the next month.

Example: Service tax for the month of April has to be paid on or before the 5th may in case of physical submission to bank or 6th may in case of online payment.

Exception: – Service Tax Collected for the month ending March shall be payable by 31st March of the said Financial year.

Due Date of Service Tax Payments for Any Assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust whether public or private)

Any Assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust whether public or private) has to pay tax in case of physically submitting to bank on or before 5th of the next Quarter. In case of on-line payment on or before 6th of the next Quarter.

Example: Service tax for the Quarter of April-June has to be paid on or before the 5th july in case of physical submission to bank or 6th july in case of online payment.

Exception: – Service Tax Collected for the quarter ending March shall be payable by 31st March of the said financial year.

Procedure of  Service Tax Payments online and Offline

      (A) Physical submission to bank

Go to CBEC then download and filled the Service tax payment Challan G.A.R-7 and submit  the challan at the respective bank that are accepting service tax payments.

       (B) Online Payment of Service Tax/ Electronic Payments of service tax.

 Go to CBEC  & fill the respective information.In Payment details select different codes   for   Service tax , education cess, senior and higher education cess , interest and penalty.If assesee is registered/providing more than one
services, while online payment of service tax make different challan for different service.

       (C) Is Service tax password necessary for service tax Payments  ?

             For payment of service tax assessee need not to remember password.

IV  Interest /Penalty on non payment of service tax

Interest on non payment of service tax Before 1st October 2014

Gross Turnover Interest on Late Payment
More than Rs. 60 Lakhs 18% Per annuam
Less than Rs. 60 Lakhs 15% Per annuam

As per amendment made in Budget 2014, Interest on non payment of service tax after 1st October 2014

Extent of Delay

Simple Interest p.a. on Late Payment of Service Tax

Upto 6 months

18% Per annuam

From 6 months upto 1 year

24% Per annuam

More than 1 year

30% Per annuam

Service Tax calender for financial year 2015-16?

 In case of Company whether private or public:

April 2015 5th May 2015 and 6th May 2015 in case of e-payments.
May 2015 5th June 2015 and 6th in case of e-payments
June 2015 5th July and 6th July 2015 in case of e-payments
July 2015 5th August 2014 and 6th August 2015 in case of e-payments
August 2015 5th September 2014 and 6th September 2015 in case of e-payments.
September 2015 5th October 2014 and 6th October 2015 in case of e-payments
October 2015 5th November 2015 and 6th November 2015 in case of e-payments.
November 2015 5th December 2015 and 6th December 2015 in case of e-payments.
December 2015 5th January 2015 and 6th January 2015 in case of e-payments.
January 2016 5th February 2015 and 6th February 2015 in case of e-payments
February 2016 5th March 2015 and 6th March 2015 in case of e-payments.
March 2016 31st March 2016.

 

In Case of Any assessee other than company (Individual, HUF, Partnership firm registered or unregistered, Limited Liability Partnership, Trust wheather public or private):

April-June 2015 5th July 2015 and 6th July 2015 in case of e-payments.
July-September 2015 5th Octomber 2015 and 6th Octomber 2015 in case of e-payments
October-December 2015 5th January and 6th January 2016 in case of e-payments
January-March 2016 31st March 2016.

 

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