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Is interest on service tax disallowed?

Is interest on service tax disallowed?

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the interest paid by the assessee on late deposit of VAT, Service Tax, TDS etc, is not penal in nature, allowable as business expenditure under section 37(1) of the Income Tax Act, 1961.

What is the effective rate of service tax in 2009 2010?

Hence the Current Service Tax Rate is 15%.

Service tax Rates/Date Basic Rates of service tax Education Cess (on Basic Rate)
10th Setp 2004 to 17th April 2016 10% 2%
18th April 2006 to 10th May 2007 12% 2%
11th May 2007 to Upto 23rd Feb 2009 12% 2%
24th Feb 2009 to 31st March 2012 10% 2%

What was the service tax rate in 2014 15?

Presenting current service tax rate chart for year 2014-15. You can find service tax rate chart 2015-16 with amended rate 14% here….Rate of service tax on work contract:

Service Service receiver Service provider
Maintenance work, restoration of goods 4.326% 4.326%
Other work contract 4.326% 4.326%

Can service tax interest be waived?

There shall be no waiver of paying interest for delay in payment of service tax. Sec. 78 of the Finance Act, 1994 provides penalty for failure to pay service tax. It provides that any person, liable to pay service tax in accordance with the provisions of Sec.

What was the service tax rate in 2015 16?

What is the Rate of Service Tax for 2015-16 and 2016-17

Period Rate of Service Tax
Till 31 May 2015 12.36%
From 1 June 2015 to 14 Nov 2015 14%
From 15 November 2015 to 31 May 2016 14.5%
From 1 June 2016 15%

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 service tax rate for FY 2016 17?

How can I access my old Service Tax portal?

How to access Service Tax (ST) application? Visit www.aces.gov.in, click on Service Tax button and, enter your username and password to login in to Service Tax application.