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I did my graduation from IIT Delhi and Post Graduate Diploma in Supply Chain and Logistics from LIBA Chennai.Worked five years in the BHEL then fifteen years in Revenue Department .Currently practicing as Indirect Tax Consultant in Service Tax, Excise and Customs.

Sunday, March 6, 2011

Interest rate have been increased form 13 % to 18% in Service Tax

 Notification is reproduced for easy reference and more clarity:

Notification    No. 15/2011 – Service Tax    New Delhi, the 1st March, 2011

G.S.R. (E).-  In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32
of 1994), the Central Government, hereby makes the following amendment in the notification of the
Government of India in the Ministry of Finance (Department of Revenue) No. 8/2006-Service Tax,
dated the 19 th April, 2006, published in the Gazette of India, Extraordinary, vide number G.S.R.224
(E), dated the 19th April, 2006, namely:-
In the said notification, for the words “thirteen per cent.”, the words “eighteen per cent.” shall be substituted.
2. This notification shall come into force on the 1st day of April, 2011.
Note.-  The principal notification No.8/2006-Service Tax, dated the 19 th April, 2006 was published in
the Gazette of India, Extraordinary, vide number G.S.R.224 (E), dated the 19th April, 2006.

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