pls confirm the service tax penalty for late remittance is it 13%?
jaganathan (accounts executive) (272 Points)
04 June 2011pls confirm the service tax penalty for late remittance is it 13%?
Anusha
(CA Final Student)
(60 Points)
Replied 04 June 2011
Interest for late remittance was 13% previously. But after the budget 2011, the interest rate has been increased to 18%
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 04 June 2011
In central excise under Sec 11AB rate of Interest has been changed from 13% to 18% in the budget 2011. I think same rate is applicable to service tax also.
Regards
Dayananda
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