Service tax on bank finance charges
This query is : Resolved
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
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
04 December 2013
Yes its applicable on finance charges but not on interest amount.
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
04 December 2013
Service Tax will be applicable on financingcharges.
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