Commitment charges
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 February 2012
Is service tax payable on commitment charges? Commitment charges refer to charges made on unutilsed portion of sanctioned loan
Is service tax payable on commitment charges? Commitment charges refer to charges made on unutilsed portion of sanctioned loan
09 February 2012
It appears that commitment charges are paid for utilizing lending services provided by bank. Section 65 (12) talks about banking and other financial services. The said section specified some services in other financial services which are appear to be indicative list not the exhaustive list. It includes lending and other services provided by bank.
To be on safer side one should collect service tax and deposit the same. Alternatively one may seek clarification by writing letter to concerned range superintendence about the taxability of same.
To be on safer side one should collect service tax and deposit the same. Alternatively one may seek clarification by writing letter to concerned range superintendence about the taxability of same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
