Penalty calculation

This query is : Resolved

JITENDER SINGH BISHT (Querist)
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27 August 2014 how calculate of service tax late payment with interest example : Payment date of service tax 6/5/14 of rs.35600 but i am not able to till date so how much amount to pay on 6/9/14

Annu Agarwal

Annu Agarwal (Expert)
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27 August 2014 Payment date:06.09.2014
due date:06.05.2014
delay days:123 days

Interest u/s 75=18% p.a.

35600*18%*123/365=2159

Penalty u/s 76
higher of
100*123=12300
or
1%*35600*123/31=1413
So penalty is 12300

Total amount to be paid on 06.09.2014=35600+2159+12300=50059