Interest on service tax
Querist : Anonymous
How we have to calculate interest?
It is to be calculated @18% i.e. present rate from 2008-09 till date or rate of interest applicable for respective years?
please guide whether to apply present interest rate 18% or different interest rates for different years?
i) from due date @ 13% per annum for the number of day's delay up to 31/3/2011.
ii) from 1/4/2011 @ 18% per anuum for the number of day's delay counted from 1/4/2011 to the date of payment.
Querist : Anonymous
Is there any clarification issued by dept.in this regard?
Querist : Anonymous
We have to pay interest under audit conducted by service tax department. Is it makes any difference?
up to 31.03.2011 @ 13%
from 01.04.2011 to date of payment @18%.
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