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Interest calculation

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(Querist)
05 November 2013 for delayed payment of service tax, how interest should be calculated
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
05 November 2013 It can be calculated on day basis from the due date to date of payment.

Interest rate is 18% per annum if your turnover exceeds Rs.60 lakh previous year, else 15% per annum
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Pavan kumar Pulipati

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Pavan kumar Pulipati (Querist)
06 November 2013 Thank u.
my doubt is whether interest should be calculated only on ST or both ST and Education cess and SHEC
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
06 November 2013 Interest should be calculated on all Service tax and E.cess and Sec.Higher education cess
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Pavan kumar Pulipati

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Pavan kumar Pulipati (Querist)
07 November 2013 thank u for your suggestion

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