As we all know that with effect from 01.10.2014 rate of interest on delayed payment of service Tax has been revised based on delay and Turnover  in Payment of service tax vide Notification No. 12/2014 dated 11.07.2014. To make the calculation of Interest on delayed payment of Service Tax Easy we have created a Calculator in Excel by which Readers can calculate Interest on delayed Service Tax Payment. All our readers have to do after downloading the sheet is to fill Turnover of last financial year, Service tax payable amount, swachh bharat cess payable , due date and payment date, interest will come automatically.

Download Automatic Service Tax Late payment interest calculator

It may be noted that:

1) 3 percent interest rate concession allowed u/s 75 shall continue to be allowed  to Assessee whose  value of taxable services provided during the last preceding financial year does not exceed sixty lakh rupees.

2) This rate structure will not be applicable to VCES cases as interest @ 18% p.a. is payable under the scheme which ends on 31 December, 2014

3) The rate of interest is simple interest per annum

4)  New interest rate will be operational only on or after 1 October, 2014. Upto 1.10.2014, rate of interest @ 18% p.a. will continue to apply.

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10 responses to “Automatic Service tax late payment interest calculator”

  1. adhisri says:

    for july and august 2017, interest of 18% for service tax is whether applicable or not? so far i didnt pay service tax under gst for july and august months and im going to pay only in this(september)month. please tell whether interest will come or not?

  2. Sridhar J. says:

    I am a senior citizen. My income for the year FY1617 is Rs 8.4 lakhs. My income in FY2015-16 was Rs 10 lakhs. I have remitted service tax for FY1516 fully but not for FY1617 though collected.

    1) The interest on service tax delayed is mentioned as 21% for the year FY2016-17. Is there a 3% rebate for senior citizens?
    2) Since my previous year’s income is less than Rs 60 lakhs, what is the interest I have to pay?

    Kindly guide and oblige.

  3. Rashmi.N says:

    Dear Sir,
    This is to inform you, we are running a proprietorship past 5 year, but we are not filled service tax returns till now (18.04.2017), what is the procedure for that at the same time how much the penalty and interest will applicable.

  4. Maruthi G says:

    Dear sir i am a service tax payer i want deposit my firm service tax with in the date of 6th october in terms of this i deposit 20/10/2016 so what is the interest for making service tax….

    • Rahul Fageria says:

      Sir, now interest rate has become flat 15 % on day s basis after june budget 2016. There is no concept of time period.

  5. Anand Patole says:

    If Rent Service Provide Service tax of Quarter Amount Not Paid.Than Interest Calculate Day wise Or Monthly?

    • Rahul Fageria says:

      Sir, Interest is applicable only on days basis and now interest rate has become flat 15 % on days basis after june budget 2016. There is no concept of time period.

  6. GOLDY says:

    SIR, BY DEFAULT WE SUBMIT SWACH BHARAT CESS & KRISHI KLYAN CESS 5% INSTEAD OF 0.5%

  7. NARESH CHANDRA says:

    Dear Sir,
    If the due date of service tax is 06/07/2013 and actual date of payment 14/07/2016 than what rate of interest is applicable, taxable turnover is more than Rs. 60 Lac for each financial Year.
    Thanking You.

    • TARAWADE says:

      BILL SUBMITTED LAST DATE OF EVERY MONTH AND PAYMENT RECEIVED NEXT MONTH AFTER DATE OF 15 , SO HOW CALCULATION WORK OF INTEREST

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