How much interest is charged on delayed payment of Service Tax?
Service tax should be paid within the prescribed time to get free from penalty and other compliance procedures. If a person fails to pay/deposit service tax to the account of the central government shall pay simple interest at such rate not below 10 % and not more than 36 % P.A
In case of a service provider having taxable services not exceeding Rs 60 lakhs , the rate of interest shall be reduced by 3 % P.A
Find out the consequences for not paying Service Tax