Sirs,
If we paid the service tax after 6 days of due date, how much we have to pay the interest for the delay.
e.g. Payable amount is Rs.1000/-
what is the current rate of interest & how much the int. for the delay of 6 days.
L KANAGARAJ (Assistant Manager-Finance) (615 Points)
15 June 2009Sirs,
If we paid the service tax after 6 days of due date, how much we have to pay the interest for the delay.
e.g. Payable amount is Rs.1000/-
what is the current rate of interest & how much the int. for the delay of 6 days.
Satish
(CA Final Student)
(479 Points)
Replied 15 June 2009
The interest is payable @ 13% p.a. on the amount of service tax due. i.e. 1.08% per month. Any part of the month shall be considered as full month for this purpose. Hence, on 1000, interest will be payable @ 1.08% equal to Rs. 11/- .
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