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Interest rates for delay in payments of Service Tax?

This query is : Resolved 
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(Querist)
03 February 2009 Hello! Please provide the following?

What is the interest rates for
delay in payment for service tax?
And how to calculate them? Please
explain in-detail?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 February 2009 It is 13% per annum. To be calculated for the number of days delay only.
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CA Chaitanya

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CA Chaitanya (Expert)
03 February 2009 13% p.a.
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Ganesh B

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Ganesh B (Querist)
04 February 2009 Thanks for reply.

It means

((S.Tax Amount * 13%)/365)*(No.of Delay Days)
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Ganesh B

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Ganesh B (Querist)
04 February 2009 Is it ok
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CA R N Mohil

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CA R N Mohil (Expert)
04 February 2009 yes
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