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Interest-on-late-payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2012 Interest on late payment of service tax is payable on day basis or month basis

for e.g.
Due Dt-05.04.12
Paid on 10.04.12

Interest will be paid for 1 month or for 5days @18%
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
06 November 2012 only for 5 days.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2012 THANKS
IF IT'S FOR TDS
DUE DT-07.05.12
PAID ON 10.05.12
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2012 PLS SEND NOTIFICATION NO.FOR DAY BASIS
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Pradeep Nainawati

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Pradeep Nainawati (Expert)
06 November 2012 Pls refer Section 75 of Finance Act.
ROI given is P.A. so the calculation is to be done on day basis.
If taxable value of services provided in previous FY is upto 60 Lakhs then ROI will be 15 %
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