SIR,
THERE ARE 2 DATES FOR EXCISE AND SERVICE TAX PAYMENT. 5TH FOR MANNUAL CHALLAN AND 6TH FOR ONLINE PAYMENT. MY QUERY IS IN CASE WE ARE PAYING EXCISE OR SERVICE TAX ON 10TH OF THAT MONTH THEN WE HAVE TO CALCULATE INTEREST FOR 5 DAYS OR 4 DAYS ? IS THERE ANY NOTI./CIRCULAR IN SUPPORTING TO THIS ??
THANKING YOU
Interest Calculation for Late Excise and Service Tax Payments: Online vs. Manual Methods Explained A discussion on a forum addressed the calculation of interest for late payment of excise and service tax. The query sought clarification on whether interest should be calculated for four or five days if the payment is made on the 10th of the month. Responses indicated that if taxes are paid online, interest is calculated for four days starting after the 6th. However, if payment is made manually, interest applies for five days. The discussion referenced the mandatory online payment requirement and the threshold limit for tax payments. (AI Summary)
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