Interest on late payment of service tax

priyanka (article) (29 Points)

05 August 2010

Whether interest on late payment of service tax allowed. Please refer with section.

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6 Replies

Dheeraj Shenoy (CA FINAL) (173 Points)
Replied 05 August 2010

No sir... Any penalty or penal charges shall be disallowed...

Harpreet (* * * * * *) (1670 Points)
Replied 05 August 2010

agree with him, not allowed

Pardeep Beniwal (Consultant) (46 Points)
Replied 18 August 2010

Interest is Allowed as per Section 37 because it is of compensatory nature but penality will not allowed........

Thanks

mohit patwa (article) (36 Points)
Replied 19 August 2010

yes penalty is not allowed but interest is allowed

kirangaikwad85 (Articled Assistant) (24 Points)
Replied 03 September 2010

if there is any late payment of service tax is there any Interest on Service tax

Satish (CA Final Student) (479 Points)
Replied 06 September 2010

Kiran,

Interest is levied @ 13% pa on late payment of service tax.

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