Interest calculation
This query is : Resolved
21 April 2015
how i calculate sevice tax interest for one month delay for maintainance & repair amt of tax is Rs 124979/-
22 April 2015
The rate of interest is 18% p.a for delay upto 6 months calculated from the due date of return. Say the due date is 6th of jAn, then interest would be calculated from 7th jan to the date of actual payment. A concession of 3% is available, that is, interest is payable @15% in case of small service providers having turnover less than 60 lakhs. Not. 12/2014 dated 11.7.2014).
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