https://www.taxtmi.com/article/detailed?id=6812 Budget 2016 standardises interest on delayed payment of Service tax, Excise and Customs duties, with a higher rate where service tax collected from recipients is not deposited with the Central Government; notifications amend Sections 75, 73B, 11AA and 28AA to implement the revised interest regime. A reduced interest concession is available for assessees below a specified turnover threshold. Limitation periods for issuing show cause notices in non-fraud cases are extended-Service tax recovery period increased and Excise and Customs limitation periods lengthened-while fraud-related limitation periods remain unchanged. en-us Sat, 07 May 2016 10:19:47 +0530 Sat, 07 May 2016 10:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6812 Budget 2016 standardises interest on delayed payment of Service tax, Excise and Customs duties, with a higher rate where service tax collected from recipients is not deposited with the Central Government; notifications amend Sections 75, 73B, 11AA and 28AA to implement the revised interest regime. A reduced interest concession is available for assessees below a specified turnover threshold. Limitation periods for issuing show cause notices in non-fraud cases are extended-Service tax recovery period increased and Excise and Customs limitation periods lengthened-while fraud-related limitation periods remain unchanged. Articles Budget - Tax Proposals Sat, 07 May 2016 10:19:47 +0530 https://www.taxtmi.com/article/detailed?id=6812