16 April 2009
Kindly inform me what will be the interest rate for delay in payment of service tax. Also tell me what will be penalty for delay in payment of service tax.
16 April 2009
Penalty which shall not be less than Rs.200/- for every day during which such failure continues or @2% of such tax per month whichever is higher. However the penalty amount shall not exceed the amount of service tax payable.
CAclubindia
