Delay in payment of service tax challan

Interest @ 18% p.a. to be calculated day wise

The normal interest calculation is 18% per annum.  But for those the taxable turnover is less than 60 lacs in the lalst  year, will have to pay only 15% p.a for the delayed days.  

whether penalty is liable u/s76 for delay in payment of servicetax along with ed cess and higher ed cess even after int paid u/s75

Originally posted by : jagadish hiremath
	whether penalty is liable u/s76 for delay in payment of servicetax along with ed cess and higher ed cess even after int paid u/s75

If condition under section 76 is attracted den irrespective wther intrest is charged u/s75 it has to be paid.

No sc+hsec edu cess is chargeable when penalty is calculated u/s 76.