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Service tax applicability on financial institutes

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(Querist)
18 May 2013 I am not able to clear myself on provisions applicable to interest on loans and advances by financial institutions in relation to service tax.
Can any one guide me on this subject.

Thank you
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MOHAMMAD SALIM

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MOHAMMAD SALIM (Expert)
21 May 2013 Interest on loans and advances is not exigible to service tax as same is included in negative list. Sec 66D (n)(i).
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ca.singh

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ca.singh (Querist)
15 June 2013 Thank you sir.
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