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TMI BlogPayment of Service TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... HI, Our Service tax laibility for the preceding financial year is NIL but in current financial year our laibility exceeding Rs.10 lacs. But in advertantly we have discharged our laibility by issuing cheque instead of e payment. Can you please suggest What are imlications inthis regard. Is there any way to avoid those implications. Notification clealy says that e payment is mandatory if liabi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lity in preceding financial year excedding Rs.10lacs. But how we can understand it is for current f.y.also. Thanks - Reply By Pradeep Khatri - The Reply = Department may impose penalty of Rs. 5000/- on non compliance of this provision. - Reply By raj kumar shukla - The Reply = Before the limit was lowered for E payment from 50 lakhs to 10 lakhs w.e.f. 01.4.2010. the limit percribed for E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment (50 lakhs) was meant for payments made in preceding financial year as well as current financial year.however W.E,F 01.4.2010 it is limited only for preceding fincial year, and not for current financial year. - Reply By JANARDHAN BUDDHATHI - The Reply = Thank you very much. But still there are different views. whether notification applies for current f.y. also. Can we interprete it app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lies to curret f.y. as in the notification clearly mentioned for preceding financial year. - Payment of Service Tax - Query Started By: - JANARDHAN BUDDHATHI Dated:- 21-2-2012 Service Tax - Got 3 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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