Rate of intt. of service tax 13% or 18% p.a
This query is : Resolved
03 April 2012
what is the rate of Interest of Service tax ?
03 April 2012
The rate of interest for the current year is fixed at 18%. The new proviso to section 75 provides that in the case of a service provider, whose value of taxable services provided in a financial year does not exceeds sixty lakh rupees during the last preceding financial year, such rate of interest, shall be reduced by 3% per annum.
03 April 2012
Agree with Chackrapani Sir. This is changed in Finance Bill 2011 w.e.f April 01, 2011.
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