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Service tax

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(Querist)
25 April 2011 Hi,

If there is dealy in Service tax pymt ,how the interest is calculated is it monthly or in days??
Sec 75 of the ST says it is in number of days.I referrd Singania .
PlZ reply ASAP
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BALASUBRAMANYA B N

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BALASUBRAMANYA B N (Expert)
25 April 2011 Service tax payments done qtr, For 1st Qtr July 5ht last, for 2nd Qtr its Oct 5th last for 3rd Qtr its Jan 5th last last Qtr pay by Apr 5th...
If you dont pay in july 5th then interest from there on still you remit will be calculated...
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 April 2011 Interest rate is 13% per annum to be calculated for the number of days delay in payment. The rate is enhanced to 18% from 1/4/2011.
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Nayan Das

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Nayan Das (Expert)
25 April 2011 I WILL AGREE WITH B.Chackrapani Warrier
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