Interest on late payment under reverse charge
Querist : Anonymous
According to new amendment for delayed payment of service tax w.e.f 01.10.2014 interest rates are modified i.e:
Upto six months = 18%
Beyond six mths to one yr = 24%
More than one yr = 30%
Now I want to know if due date of payment of service tax is 05.01.2015 but actually we are paying in July'15 then no. of days for calculating interest will be from
1. 05.01.2015 to 05.06.2015= 18%
2. 06.06.2015 to 06.07.2015= 24%
OR
1. From 05.01.2015 to 31.03.2015 = 18%
2. From 01.04.2015 to 06.07.2015 = 24%
Please reply soon.
Querist : Anonymous
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