Interest calculation

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pankaj (Querist)
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07 February 2015 if we doesn't deopsit service tax of march 2014 on 500000 then according to new rules what is the interest calculation on this?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 February 2015 From due date to 30.9.2014 @ 18% simple interest.
From 1.10.2014 to 7.2.2015 @ 24% simple interest.

Ps:- If payment date is on or after 5-4-2015 interest has to be calculate @ 30% from 1.10.2014 to the date of payment.

pankaj

pankaj (Querist)
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07 February 2015 sir interest calculation is from due date or date or month in which defaults occurs like in tds
for eg march tds is not depositd and paymnet is in 30.09.2014
so interest in this for the 7 months included march also
jst like that this also occurs in service tax calculation nothing is written about the interest is calculated from the due date

RENGARAJ R.K

RENGARAJ R.K (Expert)
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07 February 2015 March tax is payable on 31st march for all categories. Therefore interest will have to be worked from 1st April onwards.

18% upto 30th sep and 24% from 1st oct upto march 2015.

pankaj

pankaj (Querist)
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09 February 2015 sir interest calculation is from due date or date or month in which defaults occurs like in tds for eg march tds is not depositd and paymnet is in 30.09.2014 so interest in this for the 7 months included march also jst like that this also occurs in service tax calculation nothing is written about the interest is calculated from the due date

pankaj

pankaj (Querist)
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10 February 2015 B.Chackrapani Ji and Rengaraj R.K.sir please reply my query of above about the default ?