Interest rate on Service tax is revised from 13 % to 18 % w.e.f 01.04.2011. What is the interest rate applicable for service tax prior to 01.04.2011 and payment made after 01.04.2011.
Shiji (Service) (31 Points)
15 July 2011Interest rate on Service tax is revised from 13 % to 18 % w.e.f 01.04.2011. What is the interest rate applicable for service tax prior to 01.04.2011 and payment made after 01.04.2011.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 15 July 2011
payable at the rate applicable on payment date.
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 16 July 2011
Interest on delayed payment of service tax will be applicable @ the rate of 18 % p.a for payment made after 01.04.2011. But in case of individuals it will be at the rate of 15% p.a.
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 16 July 2011
Work out interest @ 13% up to 31-03-2011 and then 18% from 01-04-2011 onwards.
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 16 July 2011
| Originally posted by : CA Unnikrishnan Nair N | ||
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Work out interest @ 13% up to 31-03-2011 and then 18% from 01-04-2011 onwards. |
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Agree with u sir...
Ajay s
(Accounts Officer)
(243 Points)
Replied 23 July 2011
If The Service tax Liability is before 31.03.11 rate 13% even if u paid on after April 11
But The Service Tax Liability is after 01.04.11 rate 18%
jaganathan
(accounts executive)
(272 Points)
Replied 23 July 2011
upto 31.03.11 service tax interest rate was 13% per annum, from 01.04.11 onwards 18% per annum
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