Service Tax on pre-closure charges received by the banks / financial institution on pre-payment of loan.

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..... Service Tax on pre-closure charges received by the banks / financial institution on pre-payment of loan. - Commentaries / Editorials Dated:- 22-6-2008 - News - All the banks engaged in lending of mon .....

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..... ey is facing an issue relating to applicability of Service Tax on fore-closure / pre-closure charged towards pre-payment of loan amount. In several cases, department has issued show cause notices an .....

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..... d in some cases, the matter is still pending before CESTAT for final decision. In the meantime, department has issued a clarification that, fore-closure charges received by the banks / financial ins .....

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..... titutions can not be treated as interest and therefore, liable to service tax. See. F No 345/6/2008-TRU dated 11-6-2008 . - News - Press release - PIB Tax Management India - taxmanagementindia - .....

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..... taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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