Tarun Sharma (Accountant) (89 Points)
15 April 2015
CA Sujeet Kumar
(Self-Practice)
(738 Points)
Replied 16 April 2015
Dear you have to pay interest @ 18% for 4 days i.e. from 1st april to 4th april and for accounting code kindly see on below link.
https://www.servicetax.gov.in/circular/st-circular12/st-circ-165-2012-annx.pdf
Tarun Sharma
(Accountant)
(89 Points)
Replied 16 April 2015
CA Sujeet Kumar
(Self-Practice)
(738 Points)
Replied 16 April 2015
Dear calculate interest @ 18% on service tax which you have paid on 4th april
Manish K.Gandhi
(Superintendent)
(966 Points)
Replied 16 April 2015
in case your turnover is below 60 lakh, interest rate reduced by 3% so effective rate is 15%. in payment beyond 6 month interest at 24%(21%) and beyond 1 yr rate is 30%(27%).
For example due date is 31.03.2015 and service tax is paid on 30.04.2016, for the period 01.04.15 to 30.09.15 rate is 18%, 01.10.15 to 31.03.16 rate is 24% and from 01.04.16 to 30.04.16 rate is 30% ( for turnover less than 60 lakh, reduce 3%)
CAclubindia
