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.
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.
payable at the rate applicable on payment date.
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.
Work out interest @ 13% up to 31-03-2011 and then 18% from 01-04-2011 onwards.
| 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...
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%
upto 31.03.11 service tax interest rate was 13% per annum, from 01.04.11 onwards 18% per annum
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