What are actionable cliaims? why is service tax not charged on actionable claims?
4 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 16 January 2013
Suppose if some amount is recoverable from a debtor quite for a long time and is overdue, then the creditor performs some action against its debtor. this is known as actionable claims.
Hence no ST is leviable on actionable claims.
C.A. Sandeep Wawhal
(CA, PGDFM, BCom)
(1831 Points)
Replied 16 January 2013
Thanks for sharing good info. BUT why the question of serives tax arised over here ?
S.ASWATH
(Manager)
(704 Points)
Replied 16 January 2013
I am also having same doubt whether this is only considered as actionable claim
Even if it is this whether the ST point on creditor/debtor point or who is taking action on behalf like if lawyer send notice for that creditor pays to lawyer this is considered as actionable claim
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