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TMI BlogRate of interest on late deposit of service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... Rate of interest on late deposit of service tax X X X X Extracts X X X X X X X X Extracts X X X X ..... One of our director has given his building on rent and getting rent inclusive of service tax as per agreement on monthly basis. Total turnover for the year exceeds Rs. one crore. We are providing bill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the service recipient after biofercating rent amount plus service tax payable by us after getting rebate on house tax paid. And paying service tax on quarterly basis. We have not paid service tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by this time. We shall also have to pay penalty of ₹ 100/- per day upto ₹ 20000/- maximum on late filing of return. Now my query is at what rate of interest to be paid on late payment of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervice tax. Please give your expert opinion. REGARDS, WADHWA Reply By Ganeshan Kalyani: The Reply: 24% p.a Reply By MARIAPPAN GOVINDARAJAN: The Reply: Upto six months = 18%; Six months to one yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r = Upto six months 18% + beyond six months to one year = 24%'
More than one year = Up to six months - 18% + beyond six months to one year = 24% + beyond one year = 30% X X X X Extracts X X X X X X X X Extracts X X X X ..... wledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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