New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Interest on service tax delay

Service Tax - Started By: - saravanan rengachary - Dated:- 10-5-2016 Last Replied Date:- 11-5-2016 - Sir,As per budget 2016, interest for delayed payment of service tax is 15%, interest for tax collected but not paid is 24%.Query:Due date for service tax remittance is 06th of every month. if we make the payment on 10th, there is a delay for 4 days. what is the interest rate for this delay ?. is it 15% or 24%.Saravanan. - Reply By KASTURI SETHI - The Reply = In Service Tax Sector, reduced rate of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

y KASTURI SETHI - The Reply = Dear Sir, I agree with you. Old rates of interest still exist. New rates of interest will come into force from the date of enactment i.e when the President signs the Finance Bill,2016. Till date only Lok Sabha has passed and likely to be passed as it is. Interest rate under Section 75 of the Finance Act, 1994 - Notification No. 12/2014-S.T. superseded In exercise of the powers conferred by section 75 of the Finance Act, 1994 (32 of 1994) and in supersession of the n .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version