THE DUE DATE FOR PAYMENT OF SERVICE TAX IS THE DATE OF RECEIPT OF THE VALUE OF TAXABLE SERVICE AND NOT THE RECEIPT OF THE SERVICE TAX FROM THE SERVICE RECIPIENTS

THE DUE DATE FOR PAYMENT OF SERVICE TAX IS THE DATE OF RECEIPT OF THE VALUE OF TAXABLE SERVICE AND NOT THE RECEIPT OF THE SERVICE TAX FROM THE SERVICE RECIPIENTS https://www.taxtmi.com/article/detailed?id=457 The due date for service tax payment is the receipt of the value of taxable services by the provider, not receipt of tax from recipients; consolidated receipts are treated as cum-tax value. Interest for delayed payment is mandatory and cannot be waived, distinct from penalties which may be waived for reasonable cause. Tribunal decisions confirm that delayed receipt of tax from clients or payment prior to show cause notice does not negate interest liability where the taxable value was received earlier and tax was not deposited by the prescribed date. en-us Tue, 11 Aug 2009 00:00:00 +0530 Tue, 11 Aug 2009 17:09:01 +0530 TaxTMI RSS Generator THE DUE DATE FOR PAYMENT OF SERVICE TAX IS THE DATE OF RECEIPT OF THE VALUE OF TAXABLE SERVICE AND NOT THE RECEIPT OF THE SERVICE TAX FROM THE SERVICE RECIPIENTS https://www.taxtmi.com/article/detailed?id=457 The due date for service tax payment is the receipt of the value of taxable services by the provider, not receipt of tax from recipients; consolidated receipts are treated as cum-tax value. Interest for delayed payment is mandatory and cannot be waived, distinct from penalties which may be waived for reasonable cause. Tribunal decisions confirm that delayed receipt of tax from clients or payment prior to show cause notice does not negate interest liability where the taxable value was received earlier and tax was not deposited by the prescribed date. Articles Service Tax Tue, 11 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=457