Service tax on loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2011
Dear Experts
We given some amount to our Group Company.
For that Every month we are raising Invoice for Interest portion(Debit Interest).
Can you suggest any Service tax applicable for this?
We given some amount to our Group Company.
For that Every month we are raising Invoice for Interest portion(Debit Interest).
Can you suggest any Service tax applicable for this?
CA Nikhil Jhanwar
(Expert)
10 October 2011
Interest on Loan component is specifically excluded from levy of service tax under Valuation Rules of Service tax.
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