Interest if delayed payment of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 November 2014
I need confirmation for the below,
If PY turnover is less than 60 lacs - 15% interst is for delay in payment of service tax. if PY turnover is more than 60 lacs - 18% interest is for delay in payment of service tax...
Can anybody confirm the above is correct.
I need confirmation for the below,
If PY turnover is less than 60 lacs - 15% interst is for delay in payment of service tax. if PY turnover is more than 60 lacs - 18% interest is for delay in payment of service tax...
Can anybody confirm the above is correct.
17 November 2014
Extent of Delay Simple Interest p.a. on Late Payment of Service Tax
Up to 6 months 18%
From 6 months up to 1 year 24%
More than 1 year 30%
3 percent interest rate concession allowed u/s 75 shall continue to be allowed to specified small service provider.
Up to 6 months 18%
From 6 months up to 1 year 24%
More than 1 year 30%
3 percent interest rate concession allowed u/s 75 shall continue to be allowed to specified small service provider.
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