Interest on service tax short payment
This query is : Resolved
18 August 2018
Dear Sir,
Our Service tax scrutiny was done F.Y. 2013-14, there is short payment for the month of March 2014 service tax amt Rs.1400/- now assistant commissioner asking to pay the same with interest
Can you please guide me how to calculate interest on the same or I can calculate 18% ( 54 Months delay payment) directly.
Please help me we have to submit paid to challan to assistant commissioner
Our Service tax scrutiny was done F.Y. 2013-14, there is short payment for the month of March 2014 service tax amt Rs.1400/- now assistant commissioner asking to pay the same with interest
Can you please guide me how to calculate interest on the same or I can calculate 18% ( 54 Months delay payment) directly.
Please help me we have to submit paid to challan to assistant commissioner
18 August 2018
Interest has to be calculated for the day wise delay (not on month wise) at the
following rates.
*7-4-2014 to 30-09-2014 -18%
(if annual turnover < or = Rs. 60 lakhs @ 15%)
*1-10-2014 to 13-05-2016 -30%
* 14-05-2016 to till date - 24%
following rates.
*7-4-2014 to 30-09-2014 -18%
(if annual turnover < or = Rs. 60 lakhs @ 15%)
*1-10-2014 to 13-05-2016 -30%
* 14-05-2016 to till date - 24%
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