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Service tax
What are service tax rate and penalties of late payment
Replies (3)
RATE of Service tax is same. But you will have to deposit interest @ 18% on the amount of late paid service tax.
Rate of Interest u/s 75
Upto 6 months 18%
6<=12 months 18% for 6 months
24% for further 6 months
>12 months 18% for 6 months
24% for further 6 months
30% for beyond one year
Note: 3% concession for small service provider available.
Thanks for your advice nikhil
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