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Interest on delayed payment received from customer

This query is : Resolved 
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(Querist)
09 October 2012 Dear Sir,

In case of Builder constructing Residential complex and customer pays interest on delayed payment. Is interest is liable for service tax.

Regards

CA Vishal Dhamija
9212151907
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MOHAMMAD SALIM

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MOHAMMAD SALIM (Expert)
11 October 2012 As per Rule 6(2)(iv) value of taxable service does not include interest on delayed payment of any consideration for the provision of services or sale of property movable or immovable...

Hope this will settle the issue....

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