| Discussions Forum | ||
Home  Forum Service Tax This
|
||
| A Public Forum. Anyone can participate to share knowledge. |
||
|---|---|---|
| We acknowledge the contributions of Experts/ Authors. | ||
Submit new Issue / Query |
||
Is service tax apllicable for Charges received on Demand Draft, Service Tax |
||
|
||
Is service tax apllicable for Charges received on Demand Draft |
||
Dear Sir Is service tax applicable?, If we are taken demand draft charges from client and Demand draft is above ₹ 15 lacks in the financial year and charges taken is above ₹ 50000.00 Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Dear Nilesh, Banks are liable to pay service tax on it other income like guarantee charges, LC/DD charges, loan processing fees, inspection charges, cheque return charges, foreign exchange commission charges, remittance charges, account maintenance charges, etc. As per para 4.14.1 of Taxation of Services an Education Guide by CBEC "therefore service tax would be levied on service charges normally charged for various transactions in money including charges for making drafts, letter of credit issuance charges, service charges relating to issuance of CDs/CPs etc. Page: 1 Old Query - New Comments are closed. |
||
