pls confirm the service tax penalty for late remittance is it 13%?
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service tax late remittance penalty
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Interest for late remittance was 13% previously. But after the budget 2011, the interest rate has been increased to 18%
In central excise under Sec 11AB rate of Interest has been changed from 13% to 18% in the budget 2011. I think same rate is applicable to service tax also.
Regards
Dayananda
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