https://www.taxtmi.com/forum/issue?id=111714 Interest on service tax is computed pro rata on an annual rate using a 365/366 day year; days of delay include the payment date and exclude the due date. The interest equals the taxable amount multiplied by the annual rate and the number of delayed days, divided by the year days. Extended delays may attract different rate consequences. Section 75 offers a specified percentage benefit relevant to liability assessment. en-us Sat, 01 Apr 2017 11:42:44 +0530 Thu, 23 Jan 2025 15:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111714 Interest on service tax is computed pro rata on an annual rate using a 365/366 day year; days of delay include the payment date and exclude the due date. The interest equals the taxable amount multiplied by the annual rate and the number of delayed days, divided by the year days. Extended delays may attract different rate consequences. Section 75 offers a specified percentage benefit relevant to liability assessment. Discussion-Forum Service Tax Sat, 01 Apr 2017 11:42:44 +0530 https://www.taxtmi.com/forum/issue?id=111714