Service tax applicability on nbfc- urgent
This query is : Resolved
31 October 2012
Sir\Mam
I need ur help regarding following case.
A NBFC is providing vehicle loan and personal loan. In the recent amendment interest or discount charges have been added in the negative list of service tax [sec 66D clause (n)(i)]
Right now the firm is required to file return for April -June quater. so is it required to pay service tax on all the interest charges received upto 30th june 2012?
Also wat about other charges of the same nature like processing fees and the loan restructuring fees.
Kindly guide me through this.
regards
Jayant Agarwal
I need ur help regarding following case.
A NBFC is providing vehicle loan and personal loan. In the recent amendment interest or discount charges have been added in the negative list of service tax [sec 66D clause (n)(i)]
Right now the firm is required to file return for April -June quater. so is it required to pay service tax on all the interest charges received upto 30th june 2012?
Also wat about other charges of the same nature like processing fees and the loan restructuring fees.
Kindly guide me through this.
regards
Jayant Agarwal
CA Sahil Singla..
(Expert)
31 October 2012
Interest is excluded from service tax before 01.07.2012 also.
But service tax is payable on processing fees & other fees
But service tax is payable on processing fees & other fees
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