Rule 6(3)(D) Clarifies 50% Reversal on Interest Earned by Banks from Loans as Exempt or Taxable Service.

Credit availed on exempted services - interest earned by the bank on loans and advances, whether it is exempted service or taxable service - for the banking and financial institution under Rule 6(3) (D) the provision was available for straight 50% reversal of interest. - AT .....

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