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New rates of interest

Service Tax - Started By: - vasudevan unnikrishnan - Dated:- 2-3-2016 Last Replied Date:- 21-3-2016 - Hope all of you must have seen the notification no.13/2016 ST as per which the rates have been fixed as 15 and 24% from the date of enactment of FA, .....

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v,cochin - Reply By Rajagopalan Ranganathan - The Reply = Sir,My view is that the new interest rate is applicable only in the following situation:-Suppose the Finance Bill receives the assent of President of India on 1.6.2016. If service tax payable .....

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ll the payment is made. Thanks. - Reply By KASTURI SETHI - The Reply = Sh.Vasudevan Unnikrishnan Ji, I agree with both experts, namely, Sh. Rajagopalan Ranganathan and Sh. Ganeshan Kalyani, Sirs. I further add that reduced rate of interest is applica .....

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mple ; if the rate of interest is increased from 1.3.2016, it is practice that the department charges enhanced rate of interest for the delayed occurred in the past period i.e. November, 15 and December, 15. Thus by the wordings, except as - no benef .....

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s introduced form 1/10/2014. On the same anology, the reduced rates @15/12 etc will be applicable to the tax dues outsanding as on the date of enactment/President's assent to Finance Bill,2016. Thanks again to all. - Reply By KASTURI SETHI - The .....

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