How To Calculate Interest On Service Tax Late Payment 2013


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How To Calculate Interest On Service Tax Late Payment 2013 - Arun Jaitley while presenting Budget 2014 on 10th July has increased the rate of interest on late payment of service tax. The interest rate on late payment of service tax to be levied on a simple interest basis would now vary depending on the extent of delay in payment of service tax.. The interest under sub-section (1) shall be calculated from the first day such tax was due to be paid. (3) In case a taxable person makes an undue or excess claim of input tax credit under sub-section (10) of section 29, he shall be liable to pay interest on such undue or excess claim at the prescribed rate for the period computed in the manner prescribed.. Interest on late payment of service tax Last updated at May 29, 2018 by Teachoo As per Section 75, simple interest at a rate not below 10% p.a. but not exceeding 36% p.a. as may be notified by the Central Government may be charged.

calculation of interest on late payment of service tax as per proposed provisions of budget 2014. Interest on Service Tax is charged under Section 75 of Finance Act 1994 . Rate of Interest up to 01/10/2014 is simple interest of 18% per annum on delayed payment of tax (3% concession is available to small service providers).. Use this calculator to calculate interest payable on late payment of TDS. It will also show how the amount of interest is calculated. It will also show how the amount of interest is calculated. TaxAdda TaxAdda provides updated information about tax laws in India.. Calculating the late payment interest. This web-site includes a calculator for working out the amount of interest that can be claimed. It can also work out the amount of compensation that can be claimed..

25.03.2018  · Right video https://youtu.be/bC08uG_jEJ0 how to calculate payments and interest rates when making a large purchase such as a home or car Moter .. Contents. HMRC late payment and repayment interest rates; Income Tax, National Insurance contributions, Capital Gain Tax, Stamp Duty Land Tax, Stamp Duty and Stamp Duty Reserve Tax (from 1. 23 October 2015 Please confirm the rate of interest on late payment of service tax. e.g. April-2015 amt deposited in 21 oct 2015. how much (%) interest deposited. and for the month of aug-2015 also..

28.02.2018  · Interest would be 1.25% per month on due amount, make sure that even one day late payment attracts interest for whole month means due date for april is 21st may and payment made as on 22nd may attracts interest for whole one month i.e. May..