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Service tax calculation for bank loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 June 2015 R/Sir
Mr.X borrowed rs. 30 lacs loan from a bank. He pays Rs. 15000 EMI (Rs.9000 Principal & Rs. 6000 Interest), then as per rate of Service Tax 14%, on which amount service tax is calculated?
On 6000 i.e. interest part or any other amount?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 June 2015 only on the intrest part service tax should be applied and not on principle amount.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 June 2015 No service tax payable on interest payments.
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