Studyhatch Forum -Service tax

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What is the interest rate applicable on delayed payment of Service Tax?
Solution

The interest rate for late payment is as follows:? i) Service Tax not collected and not deposited 15% ii) Service Tax collected but not deposited 24% In case of assessee, whose value of taxable services in the preceeding financial year is less than Rs. 60 Lakhs, the rate of interest for late payment of service tax in such cases would be 12%.

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