Interest rate of service tax delayed payment

This query is : Resolved 
 

(Querist) 09 April 2012

Dear all,

can anybody send me the recent interest rate of service tax after budget -2012.

thankyou

Sellaamuthu.T


CMA. CS. Sanjay Gupta (Expert)
09 April 2012

No changes.
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.

Mihir Doshi (Expert) 09 April 2012

Agree with expert

Sandeep Arora (Expert) 09 April 2012

18 % p.a or p.m ?

Mihir Doshi (Expert) 09 April 2012

18% per annum

CA Kishore Tallam (Expert) 09 April 2012

Agree with amit.



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