Interest rate applicability...............................

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Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2011 Whether interest rate 18% is applicable for payment of old servicetax ? i.e. this interest rate has retrospective effect?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 October 2011 If the delay in payment is beyond 31/03/2011, 18% applies to old dues also. Otherwise 18% rate is effective for the service tax due from 1/4/2011.

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2011 sir , suppose my service tax payment was due for month of dec. now my question is that whether for caln , jan to march - 13% int and from april onwards months 18% rate wil be applicable?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2011 Yes. Calculate and pay as u rightly observed.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2011 very much thanks for solving query......

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