Intrest payable on service tax

Simple Interest @ 13% p.a. will be levied on the balance amount of Rs.15,211/- i.e after adjusting the credit for input service of Rs.87,516/-.

Hi Avanish,

Calculate in a MS Excel Sheet like this -

Total Output Liability

Less: Total Input Service during the year

= Net ST payable

Interest will be on "Net ST Payable" @ 13% multipying by the days of delay.

Mr. Yatish is all correct.

13% per anum