How to calculate interest rate on service tax
This query is : Resolved
21 February 2014
Dear Friends,
How to calculate the interest on service tax pls brief it and what is the percentage pls
let me know
Thanks & Regards
Saritha
How to calculate the interest on service tax pls brief it and what is the percentage pls
let me know
Thanks & Regards
Saritha
motichand gupta
(Expert)
21 February 2014
Interest rate is 18% pa. and while calculating the liability, it is calculated in no. of days.
For eg, suppose service tax payment due date is 6th and you have made payment on 9th then on service tax due amount, you apply 18% then divide 365 days and multiply for default days ie 3 days.
For eg, suppose service tax payment due date is 6th and you have made payment on 9th then on service tax due amount, you apply 18% then divide 365 days and multiply for default days ie 3 days.
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