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?
if payment of service tax is delayed in accordance with provision section 68 interest will be charged not below 10% and not exceed 36% per Annum REFER TO SECTION 75 OF F.A. 1994.
FURTHER INFORMATION LINK IS:
http://www.servicetaxonline.com/content.php?id=31
Querist : Anonymous
Please clarify.
Querist : Anonymous
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