Interest on interest payable on service tax?
karan (Taxation Executive) (24 Points)
28 December 2015karan (Taxation Executive) (24 Points)
28 December 2015
Mir Irshad Ali
(Partner)
(192 Points)
Replied 30 December 2015
No interest on interest is payable under the Service Tax Law.
Since you have already discharged the Service Tax liability, you will be required to pay only the interest on the delay in payment of Service Tax, from the due date till the date of payment.
AMBUJ SHARMA
(CHARTERED ACCOUNTANT)
(243 Points)
Replied 31 December 2015
You are liable for unpaid interest & penalty only. No interest on interest shall be charged by Service tax Deptt.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)