Interest rate
This query is : Resolved
26 March 2013
Please answer the rate of interest applicable:
1. The service pertains to FY 2010-11 when interest for delayed payment was 13%
2. Service tax has not been paid yet on the above mentioned service
3. If service tax on the above service is being paid now (i.e FY 2012-13), when interest rate is 18%, then what is the interest rate applicable on such delayed payment? 13% or 18%?
1. The service pertains to FY 2010-11 when interest for delayed payment was 13%
2. Service tax has not been paid yet on the above mentioned service
3. If service tax on the above service is being paid now (i.e FY 2012-13), when interest rate is 18%, then what is the interest rate applicable on such delayed payment? 13% or 18%?
26 March 2013
Please calculate interest @ 13% from due date to 31/03/2011 and @ 18% from 1/4/2011 to till date.
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