Interest on late service tax is mandatory and computed day-to-day, with variable notified rates and small-provider relief. Service tax delayed or unpaid attracts mandatory simple interest under section 75, computed day-to-day and payable with the tax or before filing returns; ... Summary
Interest on late service tax is mandatory and computed day-to-day, with variable notified rates and small-provider relief.
Service tax delayed or unpaid attracts mandatory simple interest under section 75, computed day-to-day and payable with the tax or before filing returns; variable interest rates apply by duration of delay and reduced rates are available for small service providers, with separate notified slabs for different delay periods and a distinct rate for recovery of excess collections.
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