Rate of Interest for late payment increased from 13% to 18% w.e.f. 1.4.2011 - Amends notification no. 26/2004 - 14/2011 – Service Tax - Service Tax

Rate of interest for late payment amended to a higher rate under service tax notification, effective April.

The notification amends the principal service tax notification by substituting the previously stated interest rate with a higher rate, thereby increasing the rate of interest for late payment of service tax; the amendment takes effect from the stated commencement date so that the higher rate applies to late payment liabilities arising on or after that date.