Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Service tax interest rate below 60 lac

NALLAPANDI M (GST Practitioner) (34 Points)

31 March 2014

I have small doubt for service tax payment collect for below How much i will pay interest and No of days this case below 60 lakhs

20/10/2013	1359
05/11/2013	1124
20/12/2013	4264
	6747

Reply
Follow
Share

8 Replies

Harendra Kumar (Tax Advisor ) (1326 Points)
Replied 31 March 2014

Sir,

calculate interest @ 18% p.a.

Upgrade to CAclubindia Pro. Subscribe Now!

nikhil (ca final) (233 Points)
Replied 31 March 2014

For turnover below 60 lacs concessional rate of 15% will be applicable...apply 15% pa on days basis...ie amount payable*15%*days from due date to actual date of payment/365

DINU SUKUMAR (Audit Manager) (176 Points)
Replied 01 April 2014

15% interest rate for small service providers

Sandeep Mangal Agarwal (Chief Accountant) (199 Points)
Replied 01 April 2014

15 % pa on days basis.

hitesh (consultant) (22 Points)
Replied 01 April 2014

SSI unit registered with service tax (GTA) if unit cross limit of 150 lacs they can avail cenvat credit of gta? And unit can get 75% abetment on gta so they can take credit of service tax.

Upgrade to CAclubindia Pro. Subscribe Now!

nirmal (student) (22 Points)
Replied 02 April 2014

i m fy b.com student nd i want to know bout cenvat nd cenvat credit..... Pls reply....

nirmal (student) (22 Points)
Replied 02 April 2014

i m fy b.com student nd i want to know bout cenvat nd cenvat credit..... Pls reply....

Akshay Garg (Indirect tax trainee) (457 Points)
Replied 07 April 2014

15% per annum on the service tax value shall be calculated on day basis. The period on which interst shall be calculated shall be date of actual payment - date on which the liability to pay arises i.e 5or 6 of the succeeding month except March.