How interest is to be calculated on service tax liability of Fy 2012-13 and 2013-14?
If service Income if an entity is less than Rs.60 lakhs, can interest be calculated on service tax collected at 12% for the FY 2016-17?
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Interest rate on Service Tax
Replies (1)
If Service tax was payable by Assesse then He has to pay ST along with interest.
If collected & not Paid then interest @ 18% pa
If not collected then interest @ 12% pa
Till it is deposited.
Interest will apply for FY 2016-17 at the above mentioned rates.
If collected & not Paid then interest @ 18% pa
If not collected then interest @ 12% pa
Till it is deposited.
Interest will apply for FY 2016-17 at the above mentioned rates.
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