09 September 2014
when calculating interest on service tax whether after due date and date of payment both day should be calculated for interest calculation on service tax.
09 September 2014
Interest Rate on Late Deposit of Service Tax--
Interest rate ( As per otification no. No. 6/2011) is 18% p.a on service tax if value of taxable service is more than Rs. 60 Lakhs and if less than Rs. 60 Lakh, you have to pay 15% p.a. interest on service tax if you do not pay service tax within the due date. The new rate of interest of 18% p.a. is applicable from 1st April, 2011.
Interest is calculated from the due date till the date of actual payment.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
09 September 2014
sir if i pay service tax through online then from 6th to date of payment both date should be count. for interest calculation.
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