Interest on Delayed Payment of Service Tax

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..... prescribed, 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 fai .....

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..... tuted for 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 vide THE FINANCE ACT, .....

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