Government of India
Ministry of Finance
(Department of Revenue)
Notification
No. 12/2014 - Service Tax
New Delhi, the 11th July, 2014
G.S.R.___ (E).- In exercise of the powers conferred by section 75 of the Finance
Act, 1994 (32 of 1994) and in supersession of the
notification
No.26/2004-Service Tax, dated 10th September, 2004, published in the Gazette of
India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.601
(E),dated the 10th September,2004, except as respects things done or omitted to
be done before such supersession, the Central Government hereby, for the purpose
of the said section, fixes the following rates of simple interest per annum for
delayed payment of service tax , as given in table below :-
Table
| Sl.No. |
Period of delay |
Rate of simple interest |
| (1) |
(2) |
(3) |
| 1. |
Up to six months |
18 per cent. |
| 2. |
More than six months and up to one year
|
18 per cent. for the first six months of delay and 24 per cent. for the delay
beyond six months. |
| 3. |
More than one year |
18 per cent. for the first six months of delay; 24 per cent. for the period
beyond six months up to one year and 30 per cent. for any delay beyond one year. |
2. This notification shall come into force on the 1st day of October, 2014.
[F. No. 334 /15/2014 -TRU]
(Akshay Joshi)
Under Secretary to the Government of India