Interest on late payment of service tax for fy 2014-15

This query is : Resolved

Naveed (Querist)
Follow

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

CA SONIYA AGARWAL

CA SONIYA AGARWAL (Expert)
Follow

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

Message likes : 2 times