29 March 2011
As per new notification Interest rates on unpaid service tax amount has been increased from 13% to 18 % is it right and 1 thing i wanted to ask whether there is any amount of increase in penalty for not filing of return on time which was maximum of Rs 2000/- half yearlr please let me know
30 March 2011
Interest rate for delayed payment of service tax is being increased to 18% per annum, effective 1-4-2011 (Notification 15/2011-ST). A concession of 3% has been proposed in the Bill for tax payers whose turnover during any of the years covered in the notice or the preceding financial year is below60 lakh.
CAclubindia
