Interest caculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2012
one of my client has not paid service tax on road transport service since April 2008.
the rate of interest is increased from 13 %p.a. to 18 % p.a. from 1-4-20111 so please help me how to calculate the interest. whether 18 % p.a. since April 2008 till payment or up to 31-03-2011 at 13 % p.a. and from 1-4-2011 at 18 % p.a. ?
the rate of interest is increased from 13 %p.a. to 18 % p.a. from 1-4-20111 so please help me how to calculate the interest. whether 18 % p.a. since April 2008 till payment or up to 31-03-2011 at 13 % p.a. and from 1-4-2011 at 18 % p.a. ?
13 February 2012
Need to calculate 13% up to 31.3.11 and from 1.4.11 You can calculate 18% on day basis
14 February 2012
If the value of taxable services provided during the last preceding financial year is less than Rs.60 lakhs such rate of interest shall be 15% percent per annum to be calculated from 01/04/2011.
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