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.
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Interest on delayed payment of Service Tax.
Replies (6)
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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