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Interest provisions

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(Querist)
17 April 2012 I have received service tax for period october to december , but not deposited till the date , what interest charges
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
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
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
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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