Interest on indirect taxes
This query is : Resolved
29 February 2012
I would like to know that, whether the following expenditures are deductible or not in the income tax:
a. interest on service tax
b. interest on vat/cst
Please confirm the section for reference.
a. interest on service tax
b. interest on vat/cst
Please confirm the section for reference.
29 February 2012
interests on service tax or vat are deductible. Only penalties in the respective acts are not allowed.
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