Notification No. 8/2006-ST-Section 73B provides for collection of interest on amount collected in excess. For this purpose, the rate of interest chargeable is notified at 13% per annum.

Notification No. 8/2006-ST Dated 19/4/2006

Section 73B provides for collection of interest on amount collected in excess. For this purpose, the rate of interest chargeable is notified at 13% per annum.- In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32 of 1994), the Central Government hereby fixes the rate of interest at ²[fifteen per cent] ^OLD¹[eighteen per cent.]^Old[thirteen per cent.] per annum for the purpose of said section.

[F.No. B1/4/2006-TRU]

(R. Sriram)

Deputy Secretary to the Government of India

1. Substituted vide Notification No. 15/2011-ST Dated 01-03-2011

2. Substituted vide Notification No. 14/2016-Service Tax Dated 01/03/2016