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Service tax on interest charged

Service Tax - Started By: - sanjay gupta - Dated:- 16-11-2015 Last Replied Date:- 28-11-2015 - My credit card issuer charging on loan taken, which shall be repaid in 6 EMI.My question is that whether service tax is applicable on interest charged by credit card issuer or not?Thanks in advance.Sanjay Gupta - Reply By Rajagopalan Ranganathan - The Reply = Sir, If the credit card company realises only interest , then such interest is not liable to service tax, as the transaction assumes the nature o .....

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he Reply = Dear Rajagopalan sir, thanks for clarification. - Reply By sanjay gupta - The Reply = My credit card issuer clarify as under We would like to clarify that any EMI which is billed on the card is a pure service in relation to credit card services, where post grant of EMI, the credit limit of the customer reduces. Section 65(33a) of Chapter V of the Finance Act, 1994 defines credit card service as under: Credit card, debit card, charge card or other payment card services includes any ser .....

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