Interest on delayed payment of service tax

[RAJESH NEELAKANTA IYER]

In the case of delayed payment of Service tax, whether Interest is required to be payable on the 1st of subsequent month or 6th of Subsequent month (in E payment) till the date of payment. Whether any notification/circular in this regard,Please provide.

RAJESH

 

AI Summary

Interest on Delayed Service Tax Payments: Pay 18% Annually from Due Date to Payment Date per Notification No.15/2011-ST. A user inquired about the timing for paying interest on delayed service tax payments, questioning whether it should be on the 1st or 6th of the subsequent month in the case of electronic payments. The response clarified that interest must be paid at a rate of 18 percent per annum from the due date until the actual payment date, as per Notification No.15/2011-ST dated 01.03.2011.