Service Tax 1994
75. Interest on Delayed Payment of Service Tax.
Every person, liable to pay the tax in
accordance with the provisions of section 68 or rules made thereunder, who
fails to credit the tax or any part thereof to the account of the Central
Government within the period prescribed, shall pay simple interest at the rate
of one and one-half per cent. for every month or part of the month by which
such crediting of the tax or any part thereof is delayed.