VCES Interest for delay, Service Tax

[satbir singh wahi]

VCES-2013 for Rental Income was filed, tax due was deposited on 30.06.2014. Now Audit party has detected that tax for period 01.07.2007 to 28.02.2009 was wrongly deposited @10% instead of 12%. Kindly guide the rate of interest and period for which the interest to be deposited.

Posts / Replies

[Naveed S]

Sir,

the query raised by the audit department is correct.

Service tax rate :

Sr. No.	Period	Rate of Service Tax	Rate of Education Cess	Rate of Secondary and Higher Secondary Education Cess
1.	1-6-2007 to 23-2-2009	12%	2% of S.T.	1% of S.T.

Further from 10.09.2004, the interest rate for late payment under service tax law is 13% and from 01.04.2011 onwards it is 18%.