banking service

Queries 555 views 1 replies

sir

one my client  is a Co-operative bank , they collects legal fees ,notice charges , postal expnss,court costs  etc., actually incurred (not in excess of actualy incurred )from borrowers. whether above receipts are taxable under service tax?

waiting for the valuable opinion from the members

with regards

suresh v

Replies (1)

Hi,

Cooperative banks have been excluded from the definition of banking compnay as regards the service tax pooint of view. therefore in my view any service provided by such cooperative bank is not taxable.

 

regards


CCI Pro

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