Home Forum Service Tax Month 11 2023 2023 (11) This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
service tax interest calculation - Service TaxExtract As per Sec 75 of Finance act 1994 read with Notification no. 13/2016 - Dated 1-3-2016 w.e.f. 14.5.2016, interest at 15% p.a. is levied for other cases (i.e. service tax is not collected from the customers) for non - payment of service tax liability. For instance, there is an unpaid liability for a period exceeding 6 years, is there any max ceiling limit for the interest on such liability or simple interest @ 15% is calculated for the due period which is more than the ST liability. Thanks in advance.
|