Interest on delayed payment of s. tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 November 2012
Hello experts,
I have following query regarding interest on delayed payment on s. tax
My company executed construction of building for a private ltd. company and raised bill during dec. 2011, but payment for the same received today ,i.e., in nov. 2012.
Now we want pay service tax applicable to above work, as there is delay in payment of tax interest will be applicable. Interest rate for f.y. 2011-12 was 13% p.a., but for f.y. 2012-13 it is 18% p.a.
So my question is - What will be rate of interest 13% or 18%?
I have following query regarding interest on delayed payment on s. tax
My company executed construction of building for a private ltd. company and raised bill during dec. 2011, but payment for the same received today ,i.e., in nov. 2012.
Now we want pay service tax applicable to above work, as there is delay in payment of tax interest will be applicable. Interest rate for f.y. 2011-12 was 13% p.a., but for f.y. 2012-13 it is 18% p.a.
So my question is - What will be rate of interest 13% or 18%?
CA Sahil Singla..
(Expert)
28 November 2012
Sir
For ur info, Interest is 18% p.a. w.e.f 01/04/2011
For ur info, Interest is 18% p.a. w.e.f 01/04/2011
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