https://www.taxtmi.com/caselaws?id=233 Interest on delayed service tax payment under Section 75 of the Finance Act, 1994 was held payable only for the actual period of delay, because the provision charges simple interest for every month or part of a month by which payment is delayed. The reasoning treated the section as requiring interest to be computed by the period of delay rather than by treating any part-month delay as a full month. A departmental circular was held inapplicable because it addressed the word "month" and not the operative phrase "part of a month". No further differential interest was recoverable. en-us Wed, 15 Dec 2004 00:00:00 +0530 Tue, 01 Jul 2008 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233 Interest on delayed service tax payment under Section 75 of the Finance Act, 1994 was held payable only for the actual period of delay, because the provision charges simple interest for every month or part of a month by which payment is delayed. The reasoning treated the section as requiring interest to be computed by the period of delay rather than by treating any part-month delay as a full month. A departmental circular was held inapplicable because it addressed the word "month" and not the operative phrase "part of a month". No further differential interest was recoverable. Case-Laws Service Tax Wed, 15 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233