12 September 2016
Service Tax collected but not deposited to the exchequer (Government) - Rate of Interest : 24% Other Cases - Rate of Interest- : 15% If in case the value of taxable services of preceding year does not exceeds Rs. 60 Lakhs, then the rate of interest on late payment will be 12%. Interest on Delayed Payment of service tax is changed by Budget 2016-2017 for the Financial year 2016-17
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