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Home News News and Press Release Month 7 2014 2014 (7) This

SERVICE TAX - Compliance enhancement - THE FINANCE (No. 2) BILL, 2014

13-7-2014
  • Contents

Compliance enhancement:

          • Simple interest rates per annum payable under section 75, to vary on the basis of extent of delay in payment of service tax. This will come into force on 1st October 2014.

Extent of delay

Simple interest rate per annum

Up to six months

18%

From six months and upto one year

24%

More than one year

30%

 
 

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