Interest on Service Tax

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..... Interest on Service Tax
Query (Issue) Started By: - Aitha RajyaLakshmi Dated:- 1-4-2017 Last Reply Date:- 1-4-2017 Service Tax
Got 4 Replies
Service Tax
Sir, The rate of Interest @ 15% p .....

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..... er year in case of delayed payment of Service Tax. Whether it mean that interest to be apid @ 1.25% per Month or irrespective of period of delay Interest @ 15% is to be paid. For example, Liability f .....

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..... or the Month of March is to be paid by 31st march itself. if we pay it on either 5th or 6th of April what shall be the rate of Interest to be paid? Reply By Himansu Sha: The Reply: The interest rate .....

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..... is calculated on yearly basis and accordingly one year is taken as 365/366 days. You can calculate the no. Of days delayed which will include the day of payment but excluding the due date of payment. .....

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..... It is easy to calculate now. If its paid on 6th, there is 6 days delay. Total amount multiplied by 0.15 and 6 , then divided by 365 will give your desired amount. If it crosses 6 months or one year, .....

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..... the rate will be different Reply By MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Shri Himansu Reply By KASTURI SETHI: The Reply: The benefit of 3 % is available under Section 75 of t .....

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..... he Finance Act. Nicely explained by Sh. Himanshu Sha, an expert. Reply By Himansu Sha: The Reply: Thanks very much
Discussion Forum - Knowledge Sharing .....

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