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Interest on delayed payment of service tax

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(Querist)
21 October 2011 Respected professional i want to know the rate of interest on delayed payment of service tax and that to be paid on days basis or how?
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CA Navin Jain

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CA Navin Jain (Expert)
21 October 2011 rate of interest is 18% per year and its calculated on day basis for the due date of the payment of service tax
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 October 2011 18% simple interest per annum to be calculated on day basis.
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