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Interest calculation of service tax

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Querist : Anonymous (Querist)
25 September 2014 Suppose my liability for service tax is in the month of April 2014 but i have paid the same in may 2014 then whether interest will be charged only for one month of delay or will it be charged when i pay the delay payment interest suppose in the given case i pay the interest in the month of september 2014. Please help me out it is the case of a company.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
25 September 2014 Interest to be calculated on days basis from the due date of payment till the date of actual payment.

Interest Rate on Late Deposit of Service Tax-- Interest rate ( As per otification no. No. 6/2011) is 18% p.a on service tax if value of taxable service is more than Rs. 60 Lakhs and if less than Rs. 60 Lakh, you have to pay 15% p.a. interest on service tax if you do not pay service tax within the due date. The new rate of interest of 18% p.a. is applicable from 1st April, 2011.
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