Cal. of interest due to delay of payment of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 September 2015
Dear sir , I want to calculate Interest on service tax For my company . The interest will be calculated for delay of 16 month as given below
Total tax due as on April.14 Rs.46068.00 Interest as on 6th sept.2015 ?
Total tax due as on May.14 Rs. 302591.00
Interest as on 6th Sept.2015 is ?
Total tax due as on April.14 Rs.46068.00 Interest as on 6th sept.2015 ?
Total tax due as on May.14 Rs. 302591.00
Interest as on 6th Sept.2015 is ?
Suresh Ramaswamy
(Expert)
14 September 2015
From 1st October 2014, interest on late payment of duty has to be calculated on daily basis i.e. a%/365 x no.of days delay.
The rates of interest:
For the first 180 days 18% p.a.
For the next 180 days 24% p.a.
In excess of 12 months 36% p.a.
You will have to calculate the interest payable accordingly.
The rates of interest:
For the first 180 days 18% p.a.
For the next 180 days 24% p.a.
In excess of 12 months 36% p.a.
You will have to calculate the interest payable accordingly.
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