|
INTERVIEW QUESTIONS
TAX
SERVICE TAX
DETAILS
Question: Is there any provision for interest for delayed payment of refunds?
Answer: If any duty/tax ordered to be refunded under section 11B(2) of Central Excise Act, 1944, to any applicant is not refunded within three months from the date of receipt of application, interest at the applicable rate shall be paid, subject to conditions laid down under section 11BB of the Central Excise Act, 1944.
Also where an amount deposited by an appellant in pursuance of an order passed by the Commissioner (Appeals) or the Appellate Tribunal, under the first proviso to section 35F of the Central Excise Act, 1944, is required to be refunded consequent upon the order of the appellate authority and such amount is not refunded within three months from the date of communication of such order to the adjudicating authority unless the operation of the order of appellate authority is stayed by a superior court or tribunal, interest shall be paid at the applicable rate after the expiry of three months, under the provisions made in section 35FF of the Central Excise Act, 1944.
Provisions of Sections 11B, 11BB, 35F and 35FF of the Central Excise Act, 1944 are made applicable to Service Tax vide section 83 of the Finance Act, 1994.
|
|
|
Category |
Service Tax Interview Questions & Answers -
Exam Mode /
Learning Mode
|
Rating |
(0.3) By 6645 users |
Added on |
8/2/2016 |
Views |
70126 |
Rate it! |
|
|
Question:
Is there any provision for interest for delayed payment of refunds?
Answer:
If any duty/tax ordered to be refunded under section 11B(2) of Central Excise Act, 1944, to any applicant is not refunded within three months from the date of receipt of application, interest at the applicable rate shall be paid, subject to conditions laid down under section 11BB of the Central Excise Act, 1944.
Also where an amount deposited by an appellant in pursuance of an order passed by the Commissioner (Appeals) or the Appellate Tribunal, under the first proviso to section 35F of the Central Excise Act, 1944, is required to be refunded consequent upon the order of the appellate authority and such amount is not refunded within three months from the date of communication of such order to the adjudicating authority unless the operation of the order of appellate authority is stayed by a superior court or tribunal, interest shall be paid at the applicable rate after the expiry of three months, under the provisions made in section 35FF of the Central Excise Act, 1944.
Provisions of Sections 11B, 11BB, 35F and 35FF of the Central Excise Act, 1944 are made applicable to Service Tax vide section 83 of the Finance Act, 1994. Source: CoolInterview.com
If you have the better answer, then send it to us. We will display your answer after the approval.
Rules to Post Answers in CoolInterview.com:-
- There should not be any Spelling Mistakes.
- There should not be any Gramatical Errors.
- Answers must not contain any bad words.
- Answers should not be the repeat of same answer, already approved.
- Answer should be complete in itself.
|
|
Related Questions |
View Answer |
|
What is the "Relevant Date" for the purpose of Refund of Service Tax?
|
View Answer
|
|
What is the procedure for claiming Service Tax refund?
|
View Answer
|
|
Can any adjustment of tax liability be made by an assessee on his own, in cases when Service Tax has been paid in excess?
|
View Answer
|
|
What is the preservation period for service tax records and documents?
|
View Answer
|
|
Is the amount of Service Tax charged from the client compulsorily to be indicated separately in the Bills / Invoices / Challans raised on him?
|
View Answer
|
|
Is there any prescribed format for the Invoice/Bill?
|
View Answer
|
|
Whether issue of Invoice/Bill/Challan is mandatory for Service Tax?
|
View Answer
|
|
Can a Service Tax officer access an assessee's Registered Premises?
|
View Answer
|
|
Can the Department ask for more information than what assessee is submitting to it in the Form ST-1 and ST-3?
|
View Answer
|
|
Where from the Service Tax assessee can get the Forms such as ST-1, ST-3 etc?
|
View Answer
|
|
Are there any statutory documents prescribed by the Government such as specified invoice proforma, specified registers etc. for use by the service providers?
|
View Answer
|
|
Is there any penalty for non-filing or delayed filing of the Returns?
|
View Answer
|
|
Whether a single Service Tax Return is sufficient when an assessee provides more than one service?
|
View Answer
|
|
Is filing of Service Tax return compulsory even if no taxable service provided or received or no payments received during a period (a particular half year)?
|
View Answer
|
|
What is the procedure for Service Tax e-filing?
|
View Answer
|
|
Is E-filing of Returns mandatory to all assessees?
|
View Answer
|
|
How to file Service Tax return?
|
View Answer
|
|
What is e-filing of Service Tax Returns?
|
View Answer
|
|
Is there any provision to file a revised return?
|
View Answer
|
|
How to file Service Tax Returns?
|
View Answer
|
Please Note: We keep on updating better answers to this site. In case you are looking for Jobs, Pls Click Here Vyoms.com - Best Freshers & Experienced Jobs Website.
View All Service Tax Interview Questions & Answers - Exam Mode /
Learning Mode
|