05 April 2012
is dere any change in service tax rules regarding the delayed payment. for eg-due date is 5th and 6th april but service tax is actually paid on 15th april. then will there be any liability for paying the interest???/
05 April 2012
The due date for payment of service tax for the month / quarter ended 31st March is 31st March itself. Any delay in paying the service tax due is subjet to ley of interst as well as penalty. Interest has to be calculated and paid @18% per annum on daily basis. e.g. if the service tax payable is x and the same is paid on 15th April, the interest payable will be = x*18%/365*15.
the rate of interest is 18% per annum and not 13%.
CAclubindia
