Interest on late payment of service tax
This query is : Resolved
18 February 2015
as per budget 2014, interest on late payment of service tax is as per slab.
my querry is the due date of Q2 of 2014-15 is 6th Oct, which interest rate is applicable.
in my case receipts are below Rs.60 lacs.
my querry is the due date of Q2 of 2014-15 is 6th Oct, which interest rate is applicable.
in my case receipts are below Rs.60 lacs.
18 February 2015
For the payment of Q2 you have to pay 18% interest. if payment not made within 6 months i.e. April 15 then you have to pay 24% interest and after 1 year 30%.
And if you are service provider and provided taxable service less than 60 lakhs then interest rate shall be reduced by 3%.
And if you are service provider and provided taxable service less than 60 lakhs then interest rate shall be reduced by 3%.
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