Late payment interest rate.
This query is : Resolved
Rajendra Ahire
(Querist)
31 March 2011
Dear Sir/Madam,
We know from this budget service tax late pmt.interest rate is 18% as from earlier of 13% per annum from 1.4.11.
but till date we have not paid service tax freight inward & outward payment FROM FEB.2011.
We planned to paid the same to government on 4 APR.2011. Kindly guideline- How is tax percent applicable for S.Tax of Feb & Mar.11.-- 13% or 18% ???
Thanks in Advance.
RAJ
We know from this budget service tax late pmt.interest rate is 18% as from earlier of 13% per annum from 1.4.11.
but till date we have not paid service tax freight inward & outward payment FROM FEB.2011.
We planned to paid the same to government on 4 APR.2011. Kindly guideline- How is tax percent applicable for S.Tax of Feb & Mar.11.-- 13% or 18% ???
Thanks in Advance.
RAJ
Sagar mal Pareek
(Expert)
01 April 2011
Since the notification number14/2011-S.T.shall come into force from 01.04.2011,the delay payment interst upto31.03.2011 will be 13% and thereafter it will be 18%,so if u pay on 4thApril,2011 the rate of 18% will be applicable for 4 days and for the earlier delay period it will be 13%.Sagar Mal Pareek
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