Late payment interest rate.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2011 Dear Sir/Madam,
We know from this budget service tax late pmt.interest rate is 18% as from earlier of 13% per annum from 1.4.11.
but till date we have not paid service tax freight inward & outward payment FROM FEB.2011.
We planned to paid the same to government on 4 APR.2011. Kindly guideline- How is tax percent applicable for S.Tax of Feb & Mar.11.-- 13% or 18% ???
Thanks in Advance.
RAJ

ANIL JANGID

ANIL JANGID (Expert)
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02 April 2011 interest rate payable current rate 18% from 1.04.2011.

Durga prasad Ambati

Durga prasad Ambati (Expert)
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03 May 2011 Interest rate on service tax is ,
If your Taxable services are below 60,00,000

You are pay 15% Interest on s.Tax.

If your Taxable services Are above 60,00,000

You are pay 18% Interest on s.tax.

If you are pay s.tax Before 31 march 2011. Interest rate is 13 % After 31 st march U have pay The above amended rates are applicable.

If you have pay Today S.Tax of Feb & Mar The rate is 15 % or 18% which ever rate is applicable to you.

Thank you