Service Tax on Loans - Consideration is only 'Interest on Loan'

Share
Share This Thread
  1. gmvmk18

    gmvmk18 New Member

    Reference: Section 66D - Negative List of Services (n)(i) - Services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount.

    If, I open a 'Financial Institution' business/firm and lend money to any person for consideration only in the form of Interest, is Service Tax applicable or not?
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Services provided by SEZ Developer to SEZ Units GST Feb 8, 2018
AVAILABILITY OF INPUT TAX CREDIT TO SERVICE PROVIDER GST Jan 12, 2018
GST for SEO and Digital Marketing services to Foreign Clients GST Dec 27, 2017
What goods and services are exempt? GST Dec 18, 2017
Is GST charged on exported goods and services? GST Dec 18, 2017