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Service tax delay payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2013 Dear Sir / Madam,

In case Service Tax delay payment,
What is the Calculation of Interest & Penalty
Plz Clarify with Example ?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 June 2013 Delay payment of service tax will attract interest as follows

Refer Notification:12/2011
gross turnover less than Rs.60 lakhs - 15% per annum

gross turnover more than Rs.60 lakhs - 18% per annum

Interest can be calculated day basis
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 June 2013 Thank you sir...
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