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Ser Tax on Int on delayed payment & on Int on Loan

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(Querist)
18 December 2008 Should an advertising agency charge service tax on the interest charged for delayed payments?

Also should an advertising agency charge service tax on the interest on loan given?

Purvi
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BALU V

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BALU V (Expert)
18 December 2008 For both the questions, in my opinion, the answer is NO
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annapurna

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annapurna (Expert)
19 December 2008 Service tax on interest on loan is excluded as defined in valuation Rules for computation of taxable service. Therefore service tax on interest on loan or interest charged for delayed payments is exempted
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