Interest provisions
This query is : Resolved
17 April 2012
I have received service tax for period october to december , but not deposited till the date , what interest charges
17 April 2012
Interest will charge at rate of 18% p.a. calculated on daily basis.
Apply the formula:-
Tax*18%*no of days of delay/365
Apply the formula:-
Tax*18%*no of days of delay/365
17 April 2012
If ur turnover for last FY does not exceed Rs. 60 lacs, then interest is 15% p.a.
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