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Service tax

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(Querist)
21 December 2012 i am giving security service how much i paying monthly int & penalty
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Kaushik Vinod

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Kaushik Vinod (Expert)
23 December 2012 Hi Padma.gh,

The rate of interest in case of late payment of service tax is 18% p.a simple interest(15% in case your services are up to Rs. 60 lacs).

Penalty for failure to pay tax from 08-04-2011 are as follows:-
Rs.100 per day during the period the failure continues or
Amount calculated @ 1% pm on the tax due

Maximum penalty is 50% of the tax payable.

Thanks


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