Service tax on bank finance charges

This query is : Resolved 
Profile Image

Profile Image

(Querist)
04 December 2013 Hi,

Is service Tax applicable on Interest or Finance charges

Bank has levied service tax on Interest/Finance charges charged on Credit card delayed payments

Can any one confirm is this withing Service Tax laws
Profile Image

Krupali

Profile Image

Krupali (Expert)
04 December 2013 yes, it is applicable service tax on Interest
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
04 December 2013 Yes its applicable on finance charges but not on interest amount.
Profile Image

Pravin

Profile Image

Pravin (Querist)
04 December 2013 but the finance charge what they are saying is nothing but interest cost only know for delayed payment of credit card dues
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
04 December 2013 Service Tax will be applicable on financingcharges.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member DHANASHRI KARMARKAR DHANASHRI KARMARKAR Pro Member KayOne ConsultingKayOne ConsultingPro Member AGNIHOTRAM RAM NARAYANAAGNIHOTRAM RAM NARAYANAPro Member NISHANT SIPANINISHANT SIPANIPro Member Amar HiroAmar Hiro
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category