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service tax let fee

This query is : Resolved 
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(Querist)
08 June 2016 hi I have forget to pay service tax on 5 th June of may month, kindly advice what would be the let penalty need to pay. regards pawan shah
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Suresh Ramaswamy

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Suresh Ramaswamy (Expert)
08 June 2016 Calculate interest @24% per annum on the tax and SBC due divide by 365 days and multiply by number of days delay including the date of payment i.e. say tax of 14000 and SBC 500 has to be paid on 10th June 2016, the interest will be calculated as follows:

[(14500 x 24%)/365] x 5 days delay = Rs.47.67 or say Rs.48/-..
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Pawan Shah

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Pawan Shah (Querist)
08 June 2016 thank you so much dear :)
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Suresh Ramaswamy

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Suresh Ramaswamy (Expert)
08 June 2016 You are most welcome.
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