Late deposit of Service Tax

Please let me know what the interest rate will be charge in case of late deposit of service tax?

and also any interest or penalty will be allowed expenditure on late deposit of service tax, TDS or return filing.

Replies (6)

Dear AMIT,

INTEREST RATE IS 13% PER ANNUM...

Further calculation is to be made on day wise unlike Income tax where part of the month is treated as Full month..

Like:-U HAVE DEPOSITED ON 10.01.2009 THEN INTEREST WILL BE

AMOUNT *13/100*5/365

Hi......

Interest will be charged at rate 13% p.a. for the day form the last date of deposit to actual date of deposit. 

13% p.a and pay interest on day basis  as amir specified

If the assasse is Indivatual and due date is quarterly, whether the interest is calculated per month of per quarter???? Please answer

Thanks in Advance

Dear Biju,

Interest is calculated on monthly basis even in case of individuals.........

Thank You So much Amir

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