TaxTMI 
TaxTMI 
For finalization of balance sheet for FY 2015-16, Reverse charge on manpower supply is required to be paid by us for invoice a billed on 19-11-15 amounting to ₹ 11000. Kindly tell me what should be the rate of interest on late payment of service tax which is to be paid after one year.
Interest on late payment of service tax
18 Mar 2017 
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Interest on late service tax follows slab rates determined by point of taxation; interest must be paid in cash.
Slab-wise interest rates apply to delayed reverse-charge service tax from the point of taxation, with each slab rate governed by the notification in force during the relevant period of delay. Determination under the Point of Taxation Rules precedes interest computation. Interest on reverse-charge liabilities is payable in cash through the prescribed challan, and a statutory concession reduces the applicable interest rate for eligible small service providers. (AI Summary)
Slab-wise interest rates apply to delayed reverse-charge service tax from the point of taxation, with each slab rate governed by the notification in force during the relevant period of delay. Determination under the Point of Taxation Rules precedes interest computation. Interest on reverse-charge liabilities is payable in cash through the prescribed challan, and a statutory concession reduces the applicable interest rate for eligible small service providers. (AI Summary)