Service tax on nbfc
This query is : Resolved
23 September 2011
I am doing audit one of the nbfc. Company is doing the business of availing the loans for auto rickshaws for it clients from one co-operative bank. It earns difference of interest and service charges.
Now I am confused regarding classification of nbfc. And whether service tax applies or not.
Now I am confused regarding classification of nbfc. And whether service tax applies or not.
25 September 2011
Service tax is applicable only on the charges and not on the interest. The turnover should be 10L and above.
25 September 2011
WHAT IS THE MEANING OF THE TURNOVER IN REGARDS TO APPLICATION OF SERVICE TAX ?
WHETHER IT MEANS THE TOTAL OF SERVICE CHARGES ?
WHETHER IT MEANS THE TOTAL OF SERVICE CHARGES ?
03 August 2023
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