Interest Rate of Service Tax in case of Turnover Below 60 Lakhs

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..... Interest Rate of Service Tax in case of Turnover Below 60 Lakhs
Query (Issue) Started By: - Mehul Pandya Dated:- 19-5-2015 Last Reply Date:- 21-5-2015 Service Tax
Got 2 Replies
Service Tax

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..... r>Sir, From 01.10.2014 Interest Rate for has been revised as 18%,24% & 30% as per delayed period. My query is if I have turnover below 60 Lakhs, can I pay Service Tax Interest @ 15%,21% & 27% respec .....

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..... tively calculating 3% concession ?? Reply By CS SANJAY MALHOTRA: The Reply: Concessional Rate of Interest @3% on Service Tax Liability is available to SSI unit if Turnover is below ₹ 60 Lacs. .....

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..... The said benefit is available in each slab or else the purpose of concessions stands defeated. Reply By YAGAY AND SUN: The Reply: Dear Mehul, It's gonna be 15% after taking in to the account o .....

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..... f concession 3% otherwise it would be 18% for the service providers whose turnover is more than of ₹ 60 Lakhs. Regards, YAGAY & SUN (Management, Business & Indirect Tax Consultants)
Discu .....

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..... ssion Forum - Knowledge Sharing .....

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