| 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 |
||||||||
Applicability of Service tax on Over due Interest Received from Customers, Service Tax |
||||||||
|
||||||||
Applicability of Service tax on Over due Interest Received from Customers |
||||||||
Sir, Recovery of Over due Interest comes under Service tax Net? Please give your opinions on this issue with relevant Staturoty Reference. Posts / Replies Showing Replies 1 to 4 of 4 Records Page: 1
No service tax will be applicable on interest. Please check the Negative list, Taxation of Servcies :- An Education Guide, and Mega Notification in this regard.
Sir Thanks for your reply. As per Sec.66D(n)(i) - Services by way of Extending Loans in under the Negative List. But Shall we taken Delayed Payment Interest as a Loan given to Customer? Is It Right? Please give your inputs.
Kindly refer Rule 6 of the Valuation Rule :- Interest for delayed payment of any consideration for the sale of goods or provision of service has been specifically excluded.
Thank You Sir Page: 1 Old Query - New Comments are closed. |
||||||||
