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TMI BlogService Tax liability on Late payment chargesX X X X Extracts X X X X X X X X Extracts X X X X ..... Service Tax liability on Late payment charges X X X X Extracts X X X X X X X X Extracts X X X X ..... eev Refer rule 6 of the Service Tax (Determination of Value) Rules, 2006. (2) Subject to the provisions contained in sub-rule (1), the value of any taxable service, as the case may be, does not include- (i) initial deposit made by the subscriber at the time of application for telephone connection or pager or facsimile (FAX) or telegraph or telex or for leased circuit; (ii) the airfare colle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted by air travel agent in respect of service provided by him; (iii) the rail fare collected by 1[rail travel agent] in respect of service provided by him; 6[(iv) interest on delayed payment of any consideration for the provision of services or sale of property, whether moveable or immoveable]; 2[(v) the taxes levied by any Government on any passenger travelling by air, if shown separately ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ticket, or the invoice for such ticket, issued to the passenger.] 7[(vi) accidental damages due to unforeseen actions not relatable to the provision of service; and (vii) subsidies and grants disbursed by the Government, not directly affecting the value of service.] Reply By Sanjeev Chauhan: The Reply: Thanks a lot Sir. Reply By MANDAVILLI RAMAKRISHNA: The Reply: if and only if, you ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credited the interest collected account then no need to pay ST
if you credit Misc. receipts or other income account, you have to pay ST X X X X Extracts X X X X X X X X Extracts X X X X
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