Dear All,
In notification no 14/2011-ST, it is mentioned that interest rate on late payment of ST is 18% and 15% for Small assessees having turnover of taxable services less than Rs 60 lacs in preceding Financial year.
Query:
1. During the current financial Year registration no. is obtained, then what is the rate of interest?
2. In the preceding financial year, turnover of taxable services is less than Rs 60 lacs and during the current financial year it is more than Rs 60 lacs, then what is the rate of interest?
3. In the preceding financial year, turnover of taxable services is more than Rs 60 lacs and during the current financial year it is less than Rs 60 lacs, then what is the rate of interest?
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