is any intrest impose on service tax late payment

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MOIN ALI (Querist)
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05 April 2017 is any interest impose on late payment of service tax of march. my one more question is what was the rate of interest on service tax please guide me

Kailas Mate

Kailas Mate (Expert)
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07 April 2017 Government has reduced the interest rate on late payment of service tax drastically from 18%/24%/30% w.e.f. 14.05.2016 to as follows:

1.Collection of any amount as service tax but failing to pay the amount so collected to the credit of the Central Government on or before the date on which such payment becomes due @ 24%
2.Other than in situation covered under serial number 1 above @ 15%

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