How is Interest computed for Late Payment of Service Tax

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  1. himaniagrawal_star

    himaniagrawal_star New Member

    for a proprietorship firm how interest for delay in payment of service tax is computed for the 3rd qtr 2014 against november month collection. whether 2.5% interest is levied(1.25% p.m. @ 15% p.m. for 2 months) or per day interest is charged upto 17th january 2015 i.e. 17 days intt?
     
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