Ser Tax on Int on delayed payment & on Int on Loan
This query is : Resolved
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
Also should an advertising agency charge service tax on the interest on loan given?
Purvi
18 December 2008
For both the questions, in my opinion, the answer is NO
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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