Is it any rule or condition of Waiver of interest

[RAM SHARMA]

Dear Experts,

Pl tell any rule or condition in which we can waive our interest for wrong interpetion of any rule or ingnorance of law.

Thanks

AI Summary

Statutory interest is non-waivable; only reduction possible, ignorance of law does not excuse liability in tax payments.
Statutory interest on delayed service tax is mandatory and non-waivable even for incorrect interpretation or ignorance of law; interest accrues automatically on unpaid tax. Administrative authorities may reduce interest in suitable cases, but outright waiver is not available. Penalties, however, can be reduced or waived under applicable mitigation or remission mechanisms.