Rate of interest on service tax wrong availment
This query is : Resolved
BASAVA SRINIVAS
(Querist)
01 December 2015
Dear Sir,
I have wrongly availed cenvat credit on input services and utilised for period from June 2013 onwards,Auditors are insist to us to pay interest. so please confirm interest applicable o not. if applicable then what is the interest rate.is it 13% or 18%.
I have wrongly availed cenvat credit on input services and utilised for period from June 2013 onwards,Auditors are insist to us to pay interest. so please confirm interest applicable o not. if applicable then what is the interest rate.is it 13% or 18%.
01 December 2015
It's gonna be 15% after taking in to the account of concession 3% otherwise it would be 18% for the service providers whose turnover is more than of ₹ 60 Lakhs.
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