Change in Service Tax Challan Due Dates and Interest

Last updated at April 16, 2024 by

 Quarterly Payment of Service Tax

Earlier Quarterly Payement of Service tax waas available only for Individual and Partnership

Now it is available to

  • Individual
  • Partnership
  • HUF
  • One Person Company (OPC) whose taxable turnover from all premises is upto 50 lacs 

(Note:- 50 lac limit is only for OPC,Not for Individual,Partnerhip,HUF) 

Learn More

 

 

Interest on Late Payment of Service Tax

New Interest Rates Applicable from 14.5.2016

Case

Rate of Interest

Service Tax collected from customer but not deposited to Government

24%*

Other Cases

(Amount not yet paid by Customer)

 

15%*

 

* There is 3% concession if

value of taxable service provided in previous financial year does not exceed Rs 60 lakh

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.