Interest on late payment of service tax for fy 2014-15
This query is : Resolved
04 November 2014
Dear experts,
i want to know the calculation of Interest on late payment of service tax for Fy 2014-15
i have Taxable T/O from May- Sep 2014 on which ST 30000/- not paid till date.
we want pay on 06/11/2014
I know that Interest Rates W.E.F 1/10/2014
are
up to Six months 18%
From 6 months upto 1 year 24%
my query is
i have to calculate interest month wise
like apl, may, jun etc OR
i have to calculate half yearly i,e 6 months at time
ST month wise
apl=0
may to sep=6000 P.M
please give me calculation steps its very urgent
Thanks in advnce
i want to know the calculation of Interest on late payment of service tax for Fy 2014-15
i have Taxable T/O from May- Sep 2014 on which ST 30000/- not paid till date.
we want pay on 06/11/2014
I know that Interest Rates W.E.F 1/10/2014
are
up to Six months 18%
From 6 months upto 1 year 24%
my query is
i have to calculate interest month wise
like apl, may, jun etc OR
i have to calculate half yearly i,e 6 months at time
ST month wise
apl=0
may to sep=6000 P.M
please give me calculation steps its very urgent
Thanks in advnce
CA SONIYA AGARWAL
(Expert)
19 January 2015
interest is calculated by no of days of delay , service tax payable * 18% * no of days of delay /365 , for 1st six months of delay , for further six months delay , service tax payable *24% * no of days of delay /365 and so on
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19 January 2015
https://www.caclubindia.com/articles/interest-under-service-tax-21463.asp#.VLyREdKUdid
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