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Applicability of service tax on interest on arrears charged, Service Tax |
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Applicability of service tax on interest on arrears charged |
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Whether Interest on arreears charged to member by Cooperative Housing Society, comes within ambit of service tax and service tax payable on the same?
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
There is not service tax on Interest received on financial activities. Once a payment becomes overdue and interest being charged on such overdue, such interest can not be taxed as per the provisions.
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