Access Ltd. was required to pay service tax by 5th October, 2014, but made the payment on 1st April, 2015. The company paid service tax of ₹32 lakh in the financial year 2013-14. Interest on delayed payment would be calc

CS Executive · Tax Laws and Practice · PYQS · June 2015
Access Ltd. was required to pay service tax by 5th October, 2014, but made the payment on 1st April, 2015. The company paid service tax of ₹32 lakh in the financial year 2013-14. Interest on delayed payment would be calculated @
(A) 18% per annum
(B) 15% per annum
(C) 24% per annum
(D) Any rate not below 10% and not exceeding 16% per annum.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Service Tax

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