Interest on service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2016
Service tax department has raised demand for the year 2011-12 with interest now the query is whether the interest will be charged at the rate prevailing in current financial year or at the rate prevailing in the F.Y 2011-12
Please do the needful
Please do the needful
29 January 2016
From 01.04.2011 Interest to be calculated @18% P.A Notification 14/2011 , with effect from 01.10.2014 notification 12/2014
1. Up to 6 months- 18%
2 >6 Month to 1 Year – 24%
3. > 1 Year – 30%
you have to work based above notification
1. Up to 6 months- 18%
2 >6 Month to 1 Year – 24%
3. > 1 Year – 30%
you have to work based above notification
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