08 February 2016
QUERY REGARDING INTEREST ON SERVICE TAX:
The rate of Interest for delayed payment of Service Tax was 13% upto 31-03-2011, & was 18% from 01-04-2011 to 30-09-2014 & at higher rates subsequently: If an assessee is liable for paying Service Tax belatedly, Say, from 01-04-2010, can he calculate Interest on Service Tax @13% upto 31-03-2011, @ 18% from 01-04-2011 to 30-09-2014& at 18%, 24%, & 30% ( as applicable) from 01-10-2014? Please enlighten me.
CAclubindia
