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Bank interest/commission by banks are eligible for st credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2014 Hi! Club Members,

For any bank/financial institution collected the bank interest/bank commission (with service tax) are eligible to take credit of that Service Tax, whose account they're charged accordingly in their statement.

Please clarify at the earliest and do needful.
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arihant kumar jain

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arihant kumar jain (Expert)
23 April 2014 Dear, Bank Cant charge service tax on interest.
and a registered manufacturer and registered service provider can avail credit of service tax
please refer cenvat credit rules for deep clarification.
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