Interest on service tax late payment

C R Manjunath (Accounts Manager) (56 Points)

27 June 2012  

Hi,

Interest on payment delay is 18% p.a. wef 01.04.2011 & in forums I could see 15% p.a. for the firms turnover having less than 60 lacs p.a. Could any one provide Notification details where it mentions about 15% upto 60 lacs turnover.

Notification No.14-2011 01.03.2011 states "In the said notification, for the words “thirteen per cent.”, the words “eighteen per cent.” shall be substituted."

Thanks,
Manjunath.