Can interest U/s 75 for delay payment of service tax Exceed the Service tax Liability??
For eg.
- service tax Liability is of rs. 100/- and the same was not paid for several years and now when paid the interest U/s 75 say comes to Rs. 102/-
Can int exceed the amount of service tax liability??
There is no such restriction in case of payment of interest. Such limit is there for the Penalty. The Act is silent about it.
So as per me, Interest amount can exceed the Service Tax amount.
Is there any Case Law in this regards?
CAclubindia
