19 October 2015
Budget 2015 is silent on this issue.However budget 2014-15 ,vide notification no.12/2014-ST (Effective from 01/10/2014 has incresed the rates for delay payment of service tax depending upon the delay. for delay up to six months it is 18*,more than six months but less than a year it 18% for six months and 24% for the delay beyond six months. More than a year , 18% for first six months,24% foe second six months and 30% for the period beyonf one year.Threepercet concession however is there as per section 75 that is for those below (value of Ser.Tax.60 Lacs).ca.sagar mal pareek
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