Interest on Delayed Payment of Service Tax

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..... ernment within the period prescribed, shall pay simple interest 2 [ 3 [at such rate not below ten percent. and not exceeding thirty-six per cent. per annum, as is for the time being fixed by the Central Government, by notification in the Official Gazette] for the period] by which such crediting of the tax or any part thereof is delayed. 6 [Provided that in the case of a person who collec .....

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..... . Earlier section 76 was amended by the Finance Act, 1997. 2. Substituted for at the rate of one and one half per cent for every month or part of the month by the Finance Act, 2001, w.e.f. 16-7-2001. 3. Substituted for at the rate of fifteen per cent per annum by the Finance (No. 2) Act, 2004, w.e.f. 10-9-2004. Earlier, it was amended by the Finance Act, 2002, w.e.f. 16-8-2002. 4. Ins .....

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