Interest on unsecured loan received rs.1000000 above
This query is : Resolved
Rajesh ranka
(Querist)
21 March 2015
Hi,
I want to know that if any individual who received interest on unsecured loan is liable for service tax registration.
I want to know that if any individual who received interest on unsecured loan is liable for service tax registration.
S SRINIVASAN
(Expert)
21 March 2015
Receiving interest is outside the scope of the definition of service and therefore not liable for Service Tax. But if any processing fee is received that is subject to ST. Where as in case of credit card interest debited is liable for ST
casrinivasantry@gmail.com
casrinivasantry@gmail.com
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