calculation of interest

This query is : Resolved

survesh (Querist)
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17 March 2009 please say me how shound i call. interest:

service tax payable: october to december
Rs.66700.00
this amount is to paid on 1/4/2009 so how much should i pay the interest.How to calculate the interest

pls.so eg: for calculation

please say the date for payment of service tax qtrly & also return filling dt.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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17 March 2009 It is assumed that you are liable to pay tax quarterly.

Due Date = 5/1/2009
Payment Dt = 1/4/2009(not yet arrived)
Delay = 86 days
Rate of Interest = 13% pa

Interest = Rs. 66,700 X 13% X 86 / 365

Dates of payment(Quarterly) : - 5th of July, October, January and 31st of March

Return Filling : 25th of October and April