Dear All,
Kindly advice on this piece of querry,
A manufacturing concern has applied for a loan from Bank. The bank as usual charges service tax on Loan processing fees and also on bank charges and OD/CC charges.
So my querry is simple, whether the manufacturing concern will be allowed credit of Service tax on these loan processing fees and the Bank charges or OD/CC charges?
Also will your answer change if the manufacturing concern is also registered for Service tax and is paying service tax on regular basis as well as on reverse charge basis?
CAclubindia
