Cancellation charges on exempt service.
This query is : Resolved
11 December 2013
The wholesale transaction viz., foreign exchange currency transaction between banks and authorised dealeers is exempt from service tax. Now, if cancellation charges are levied for cancellation of wholesale transaction, whether service tax would be applicable on this cancellation charges in light of the fact that original transaction was exempt transaction.
11 December 2013
the ans is no as its not specifically charged to tax.
12 December 2013
Can u please let us know the provisin under which the cancellation charges levied for cancellation of exempt service is also exempt from service tax.
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