Interest on delayed payment of service tax
This query is : Resolved
23 March 2017
Whether interest on delayed deposit of service tax needs to be bifurcated into interest relating to basic service tax & interest pertaining to cess, Please provide clarification,
Further in case of payment of service tax on reverse charge mechanism whether concessional rate of interest of 21% can be availed it the value of services taxable under reverse charge doesnt exceed 60 lakhs
Further in case of payment of service tax on reverse charge mechanism whether concessional rate of interest of 21% can be availed it the value of services taxable under reverse charge doesnt exceed 60 lakhs
23 March 2017
1. Bifurcation required while making online payment.
2. 3% concession can be availed.
2. 3% concession can be availed.
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