CALCULATOR for Interest on Service Tax Delayed Payment (w.e.f. 01.10.2014)
E.g. Format:
Turnover during the Previous Financial Year 8,14,96,170.00
Concession of 3% in rate of interest applicable or not (Provision to Section 75 of the Finance Act, 1994) NO
Service tax payable 79,351.00
Due date of payment 12-Feb-2015
Actual date of payment 10-Apr-2016
Total period of delay (in days) 423
Period of delay Rate of Simple Interest Interest for the period No. of days of delay Computation of Interest
— — — — to — — N.A.
— — — — to — — N.A.
— — — to — — N.A. N.A.
More than 1 year for the first 6 months of delay 18% 13-02-2015 to 12-08-2015 181 7,083.00
for the period beyond 6 months up to 1 year 24% 13-08-2015 to 12-02-2016 184 9,600.00
for any delay beyond 1 year 30% 13-02-2016 to 10-04-2016 58 3,783.00 20,466.00
E.g. Format:
Turnover during the Previous Financial Year 8,14,96,170.00
Concession of 3% in rate of interest applicable or not (Provision to Section 75 of the Finance Act, 1994) NO
Service tax payable 79,351.00
Due date of payment 12-Feb-2015
Actual date of payment 10-Apr-2016
Total period of delay (in days) 423
Period of delay Rate of Simple Interest Interest for the period No. of days of delay Computation of Interest
— — — — to — — N.A.
— — — — to — — N.A.
— — — to — — N.A. N.A.
More than 1 year for the first 6 months of delay 18% 13-02-2015 to 12-08-2015 181 7,083.00
for the period beyond 6 months up to 1 year 24% 13-08-2015 to 12-02-2016 184 9,600.00
for any delay beyond 1 year 30% 13-02-2016 to 10-04-2016 58 3,783.00 20,466.00
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