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Service Tax on Bank int.(credit card)

This query is : Resolved 
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(Querist)
09 December 2010 Dear Sir

A person has taken loan from Credit card.

Bank is charging int. every month.

On int. they are charging Service Tax @ 10.3%

Bank has to charge ser.tax on service charges only.

Than why they are charging on int. components?

Thx
Anwar
07798449786
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
12 December 2010 you should ask them. Maybe as a measure of abundant caution. ST on interest specially excluded
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