Is it any rule or condition of Waiver of interest, Service Tax

[RAM NAUDIYAL]

Dear Experts,

Pl tell any rule or condition in which we can waive our interest for wrong interpetion of any rule or ingnorance of law.

Thanks

Posts / Replies

[Pradeep Khatri]

Interest is statutorily payable, it can't be waived off.  Though, it may be reduced.

[NEERAJ KUMAR, RANCHI]

No there is not any such rule, interest is automatic and if tax/duty has not been paid in time, interest has to be paid.

[Seetharaman K C]

Interest cannot be waived and is therefore payable. It is only penalties which can be reduced or waived