Interest on Delayed Payment of Service Tax

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..... ed, shall pay simple interest 2[ 3[at such rate not below ten percent. and not exceeding thirty-six per cent. per annum, as is for the time being fixed by the Central Government, by notification in the Official Gazette] for the period] by which such crediting of the tax or any part thereof is delayed. 6[Provided that in the case of a person who collects any amount as service tax but fails to pay .....

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..... or "at the rate of one and one half per cent for every month or part of the month" by the Finance Act, 2001, w.e.f. 16-7-2001. 3. Substituted for "at the rate of fifteen per cent per annum" by the Finance (No. 2) Act, 2004, w.e.f. 10-9-2004. Earlier, it was amended by the Finance Act, 2002, w.e.f. 16-8-2002. 4. Inserted vide Finance Act, 2011 w.e.f. 8-4-2011 5. Substituted v .....

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