Interest rate for late payment of service tax

This query is : Resolved 
 

(Querist)
06 September 2012

Dear Sir,
Please help me for what is the rate of interest for late payment of service tax and how to calculate we want to payment of service tax deposite with interest for last two months


CA Navin Jain (Expert)
06 September 2012

18% per annuam and interest will be caculated on day bisis.

suppose your st depost date was 06.08.2012 and you have deposited is on 10.08.2012 then you will liable to pay interest for 4 days.

Naveen Semwal (Querist)
06 September 2012

Thanks sir but please tell me how to calculate it

U S Sharma (Expert)
06 September 2012

no of days default /365 x18/100x 1mount of default = amount of interest



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