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Service tax applicability on interest free deposit

This query is : Resolved 
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(Querist)
11 September 2012 Suppose I am a service provider giving a Life Membership Service & collecting service tax on it.

But suppose that, if I consider it as an Interest free Refundable Deposit instead of an income & change my company policy to refund the same after a period of say 30 years, then will Service Tax will be chargeable on this Interest Free Refundable Deposit?

Thanks for your replies in advance.
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CA Suresh Jain

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CA Suresh Jain (Expert)
11 September 2012 There is no service tax chargeable on the deposits received from a person
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