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Service Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Banking and Other Financial Services - delayed payment charges ...

Service Tax

June 13, 2023

Banking and Other Financial Services - delayed payment charges collected from the borrowers who made loan repayments belatedly ie beyond the period stipulated in the agreement - declared service in the light of section 66E(e) of the Finance Act, 1994 or not. - the service tax could not be levied on ‘delayed payment charges’ collected by the appellant from their customers from 01.07.2012 also. - AT

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