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Serviece Limit

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(Querist)
17 March 2011 Respected Sir,

Last Yaer our turn over rs.10 Lak we have taken registration no.and charges Stax but this yaer upto today the turnover is rs.4 lakh should i charge Servicetax or not on 4 Lakh.

Please say the rate of interest for Service Tax delay payment. is st 13% or 18 % Please guide me.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 March 2011 Have to charge and pay ST on Rs.4 lacs. Interest rate upto 31/3/2011 ia 13% per annum to be calculated on the number of delays only. But from 1/4/2011 on wards interest rate is proposed to 18% in the Finance Bill,2011 and the effective date is yet to be known.
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