Interest rate on collected service tax may be varied by government when collected amounts are not remitted on time. An amendment empowers the Central Government to specify, by notification, an alternative rate of interest where a person who collects any amount as service tax fails to pay the collected amount to the Central Government by the due date, with the new proviso inserted before an existing 'Provided further' clause.
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Provisions expressly mentioned in the judgment/order text.
Interest rate on collected service tax may be varied by government when collected amounts are not remitted on time.
An amendment empowers the Central Government to specify, by notification, an alternative rate of interest where a person who collects any amount as service tax fails to pay the collected amount to the Central Government by the due date, with the new proviso inserted before an existing "Provided further" clause.
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