Interest on delayed payment received from customer
This query is : Resolved
CAVISHAL DHAMIJA
(Querist)
09 October 2012
Dear Sir,
In case of Builder constructing Residential complex and customer pays interest on delayed payment. Is interest is liable for service tax.
Regards
CA Vishal Dhamija
9212151907
In case of Builder constructing Residential complex and customer pays interest on delayed payment. Is interest is liable for service tax.
Regards
CA Vishal Dhamija
9212151907
MOHAMMAD SALIM
(Expert)
11 October 2012
As per Rule 6(2)(iv) value of taxable service does not include interest on delayed payment of any consideration for the provision of services or sale of property movable or immovable...
Hope this will settle the issue....
Hope this will settle the issue....
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