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Interest on Service Tax

Service Tax - Started By: - Aitha RajyaLakshmi - Dated:- 1-4-2017 Last Replied Date:- 1-4-2017 - Sir,The rate of Interest @ 15% per year in case of delayed payment of Service Tax. Whether it mean that interest to be apid @ 1.25% per Month or irrespec .....

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The Reply = The interest rate is calculated on yearly basis and accordingly one year is taken as 365/366 days. You can calculate the no. Of days delayed which will include the day of payment but excluding the due date of payment. It is easy to calcul .....

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