TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Finance Act Rules: Sections 73A and 73B Enforce Excess Service Tax Deposits and Interest Rates Up to 24% Annually.</h1> The Finance Act, 2006 introduced sections 73A and 73B to manage excess service tax collections. Section 73A mandates that any excess service tax collected must be deposited with the Central Government. If not paid, a notice will be issued, and the amount determined must be paid. Any surplus after adjustments is credited to the Consumer Welfare Fund or refunded. Section 73B requires interest on excess amounts collected, ranging from 10% to 24% annually, with a specific rate of 18% as of April 1, 2011. Reduced interest applies if the service provider's taxable services are below a specified threshold.
TaxTMI 
TaxTMI 
