Dear Sir,
We are Share Broking Company; we receive the penalty from our clients for delay payment of their dues.
My question is:
1. Do we want collect the service tax for above said penalty? (As per Negative List)
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Service tax on penalty income
Replies (2)
Hi,
Since collection of penalty is not a service provided & hence no ST to be collected on the same.
Thanks//Vaibhav
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yes correct
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