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Interest on interest payable on service tax?
I would like to know whether Interest will be charged on Interest already payable on Service Tax Liability?
I have paid only Liability but Interest Payment is still pending, if I get a notice for payment, would they charge Interest on the same?
The second question is, if Interest is charged on Interest, then from which date will it be calculated? From the date of Service Tax liability paid or from the Interest already accruing?
Request your kind help in throwing light into this matter.
Thank You.
Replies (2)
No interest on interest is payable under the Service Tax Law.
Since you have already discharged the Service Tax liability, you will be required to pay only the interest on the delay in payment of Service Tax, from the due date till the date of payment.
You are liable for unpaid interest & penalty only. No interest on interest shall be charged by Service tax Deptt.
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