Rate of interest of service charge
This query is : Resolved
Nandu Nanthen
(Querist)
29 October 2013
this financial year what is the rate of service charge interest will be applicable?
29 October 2013
Interest rate ( As per Notification No. 6/2011) is 18% p.a on service tax if value of taxable service is more than Rs. 60 Lakhs and if less than Rs. 60 Lakh, you have to pay 15% p.a. interest on service tax if you do not pay service tax within the due date. The new rate of interest of 18% p.a. is applicable from 1st April, 2011.
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Nandu Nanthen
(Querist)
30 October 2013
thank you so much mr sanjay gupta for your reply
Nandu Nanthen
(Querist)
12 November 2013
hi friends .. can some one please help me with notes of customs duties and what is the rates charging for customs duties. i am looking for a Shot not of customs duties ..Please help me out.. My gmail Id nandunanthen@gmail.com
19 July 2025
Interest Rate on Late Payment of Service Tax (F.Y. 2013–14)
As per Notification No. 6/2011 – Service Tax, the rate of interest on delayed payment of service tax is:
Turnover of Assessee Interest Rate (per annum)
Above ₹60 lakhs 18% p.a.
Up to ₹60 lakhs 15% p.a.
This rate structure was applicable from 1st April 2011.
It remained valid for several years, including FY 2013–14.
🔎 Additional Notes:
Interest is mandatory and cannot be waived for delayed payment of service tax.
It is not treated as a penalty, so no show cause notice is required before demand.
Applicable even if non-payment was unintentional.
📘 Regarding Your Second Question – Customs Duties
If you want a short note or summary of customs duties, let me know — I can prepare a concise, exam-friendly or business-usable version and send it right here. Let me know if you're looking for:
Types of customs duties (BCD, CVD, IGST, etc.)
Current rates for common imports
How duty is calculated
Key sections of the Customs Act
As per Notification No. 6/2011 – Service Tax, the rate of interest on delayed payment of service tax is:
Turnover of Assessee Interest Rate (per annum)
Above ₹60 lakhs 18% p.a.
Up to ₹60 lakhs 15% p.a.
This rate structure was applicable from 1st April 2011.
It remained valid for several years, including FY 2013–14.
🔎 Additional Notes:
Interest is mandatory and cannot be waived for delayed payment of service tax.
It is not treated as a penalty, so no show cause notice is required before demand.
Applicable even if non-payment was unintentional.
📘 Regarding Your Second Question – Customs Duties
If you want a short note or summary of customs duties, let me know — I can prepare a concise, exam-friendly or business-usable version and send it right here. Let me know if you're looking for:
Types of customs duties (BCD, CVD, IGST, etc.)
Current rates for common imports
How duty is calculated
Key sections of the Customs Act
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