Interest calculation
This query is : Resolved
Pavan kumar Pulipati
(Querist)
05 November 2013
for delayed payment of service tax, how interest should be calculated
CMA Ramesh Krishnan
(Expert)
05 November 2013
It can be calculated on day basis from the due date to date of payment.
Interest rate is 18% per annum if your turnover exceeds Rs.60 lakh previous year, else 15% per annum
Interest rate is 18% per annum if your turnover exceeds Rs.60 lakh previous year, else 15% per annum
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Pavan kumar Pulipati
(Querist)
06 November 2013
Thank u.
my doubt is whether interest should be calculated only on ST or both ST and Education cess and SHEC
my doubt is whether interest should be calculated only on ST or both ST and Education cess and SHEC
CMA Ramesh Krishnan
(Expert)
06 November 2013
Interest should be calculated on all Service tax and E.cess and Sec.Higher education cess
Pavan kumar Pulipati
(Querist)
07 November 2013
thank u for your suggestion
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