How to calculate interest on late payment of service tax

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Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2013 Dear Sir's

Plz guide me how to calculate interest on service tax late payment

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 July 2013 It need to be calculate on day basis, 18% percentage per annum. in case your turnover is less than Rs.60 lakhs then 15% per annum

Interest = Service tax x 15 or 18% x number of days delay/ 365

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013 thank you

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013 Sir i have to ask 1 more question regarding profession tax.

one my client have old profession tax no and he did not pay profession tax payment from last 2003-04 so how to calculate profession tax liability on that

Basic Amt is 25000/-

interest rate is 1.25 percentage p.m

reply me as soon as if possible.....

umesh parmar
CA. Artical student

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 September 2013 please tell me which state

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Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 Maharashtra state

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 he have PTEC number

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