https://www.taxtmi.com/article/detailed?id=211 Statutory interest under Sec. 75 is a mandatory, compensatory obligation for delayed payment of service tax, to be computed pro rata for the actual period of delay; Sec. 73B similarly mandates interest on excess collections. Interest is not leviable where there was no tax liability or where the levy lacked legal effect for the period concerned, while penalties remain discretionary and distinct from interest. en-us Mon, 27 Oct 2008 00:00:00 +0530 Mon, 27 Oct 2008 16:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=211 Statutory interest under Sec. 75 is a mandatory, compensatory obligation for delayed payment of service tax, to be computed pro rata for the actual period of delay; Sec. 73B similarly mandates interest on excess collections. Interest is not leviable where there was no tax liability or where the levy lacked legal effect for the period concerned, while penalties remain discretionary and distinct from interest. Articles Service Tax Mon, 27 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=211