19 November 2014
Calculation of days for interest depends on mode of payment whether it is through challan or online payment. (ofcourse e-payment is mandatory from 01.10.2014) If payment is through challan, take the no.of days from 06.11.2014 to 07.11.2014- i.e, 2 days. If payment is through online take one day.
As far as interest rate is concerned, it is 18% p.a. from 01.10.2014. However, for small service providers (whose taxable service during any financial year did not exceed Rs.60 lakhs), then interest rate will be 15%.
You calculate interest accordingly and remit.
for further doubt, you may ask ca.ravikumarm@gmail.com
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