Interest on service tax payment.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2012
Hi... i want conform that,
My Sept'12 service tax liability is Rs.13635/- which due date is 5/6 Oct'12
but i deposit service tax on 8 Oct'12. for interest on service tax how many days i will count. is Rate of Interest is 13% p.a or any changes.
My Sept'12 service tax liability is Rs.13635/- which due date is 5/6 Oct'12
but i deposit service tax on 8 Oct'12. for interest on service tax how many days i will count. is Rate of Interest is 13% p.a or any changes.
08 October 2012
Interest will be 18% per annum. you have to pay interest for 3 days only.
Message likes :
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08 October 2012
In addition to interest@18% for 3 days u/s 75, penalty u/s 76 shall also be paid. Penalty will be Rs 100 per day for 3 days ie 300 Rs.
08 October 2012
Dear Mr. Pankaj,
If you have to pay duty with interest, penalty can not be imposed.
If you have to pay duty with interest, penalty can not be imposed.
08 October 2012
Rate of interest on delayed payments will be 18% p.a. in case your receipts in the previous year exceeds Rs 60 lacs in the previous year, else the rate of interest is 15% p.a
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