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Interest on service tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 April 2012 dear sir/madam, what is the rate of interest on late payment of service tax. please explain it in detailed
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
21 April 2012 In case of delay in payment of service tax, interest shall be charged @18% from the date of payable up to the date of payment.

However,Incase those service providers having turnover upto 60 lakhs in previous financial year, rate will be 15% insted of 18%.
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
21 April 2012 TO upto 60 lacs in previous year.
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
21 April 2012 yes.agree with above expert.

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