Interest on bill discounting-service tax applicability
This query is : Resolved
SYED HABEEB
(Querist)
19 February 2013
Please confirm whether service tax is applicable on bank charging interest on early payment of bill discounting by customer
Eg:Customer bank is giving us early payment & customer will settle the same to banker on maturity of payment interest on that whether service tax is applicable?
Eg:Customer bank is giving us early payment & customer will settle the same to banker on maturity of payment interest on that whether service tax is applicable?
Arvind Tiwari
(Expert)
20 February 2013
No Service tax is applicable on the Bank Interest as it if falling under Section 66D of Negative List.
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