Interest on delay in payment of service tax
This query is : Open
Aman Dhingra
(Querist)
04 December 2015
Due amount of service tax is 18000 and interest is to be paid for period July 2010 to December 2015.Kindly let me know the amount of interest i have to deposit & whether interest amount can exceed service tax amount?
KAVIRAJA ADDANGADI
(Expert)
04 December 2015
Revise Rate of Return from 01.10.2014
Up to 6 Months =18% PA
> 6 Months to Year =24% PA
> 1 Year =30% PA
Interest amounts to Rs.20250/-
Up to 6 Months =18% PA
> 6 Months to Year =24% PA
> 1 Year =30% PA
Interest amounts to Rs.20250/-
Aman Dhingra
(Querist)
04 December 2015
Can you explain this calculation?and what will be interest rate till 01.10.2014 as interest will be calculated from July 2010?
KAVIRAJA ADDANGADI
(Expert)
04 December 2015
Till Sept 2014 I have worked 18%. Oct to tlll date 30%
Aman Dhingra
(Querist)
05 December 2015
But interest amount cannot exceed total ST payable amount.Am i right?
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