06 April 2010
SIR PLEASE TELL ME THE INTEREST OF LATE PMT. OF SERVICE TAX.AS PAR MY KNOWLEDGE THE INT. NOT MORE THAN 2000. SIR IS IT CORRECT.IF WRONG THAN SIR PLEASE CLEAR MY DOUBT.THANKS IN ADVANCE.
08 April 2010
Interest rate u/s 75 of Finance ACt, 1994 is 13% p.a. there is no provision for maximum interest to be charged as Rs.2000. Such Maximum provisions are there for Penalties and that too Rs. 5000.
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