sir, We did not paid service tax for the june-2011, July-2011 and august-2011. so what is the procedure to calculate interest and which rate of interest on it applicable ie only 18% or fist 6 month 18% 6to12month 24% I year above 30% ?
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Interest on belated payment of service tax
Replies (2)
interest @ 18% will be applicabke in your case. the new slab rule of intt payment is applicable from 01.10.14 onwards.
Calculate no of days delay from due date . In your case delay is more 365 days so
Up to 1.10.14 - 18%
After 01.10.14 _ directly 30%
24% will not come in your case.
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