https://www.taxtmi.com/forum/issue?id=106208 Interest on wrongly availed and utilised service tax credit accrues from the statutory due date under Rule 6; corporate assessees follow the monthly payment deadline (with an electronic payment distinction) and individuals/proprietors/partnerships follow the quarterly deadline. An increase in the prescribed interest rate operates prospectively from its notified commencement date, with earlier periods charged at the prior rate. Reversing the credit now does not eliminate interest liability for the intervening period. en-us Wed, 30 Oct 2013 21:08:24 +0530 Thu, 23 Jan 2025 15:57:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=106208 Interest on wrongly availed and utilised service tax credit accrues from the statutory due date under Rule 6; corporate assessees follow the monthly payment deadline (with an electronic payment distinction) and individuals/proprietors/partnerships follow the quarterly deadline. An increase in the prescribed interest rate operates prospectively from its notified commencement date, with earlier periods charged at the prior rate. Reversing the credit now does not eliminate interest liability for the intervening period. Discussion-Forum Service Tax Wed, 30 Oct 2013 21:08:24 +0530 https://www.taxtmi.com/forum/issue?id=106208