https://www.taxtmi.com/article/detailed?id=6508 Clause N exempts from service tax services by way of extending deposits, loans or advances and inter se sale/purchase of foreign currency among banks or authorised dealers, but only to the extent the consideration is represented by interest or discount; charges beyond interest/discount are taxable. Interest for service-tax purposes excludes service fees and other charges, creating a narrower scope than the Income Tax definition. Invoice discounting is covered only insofar as consideration is the discount, sales of forex to the public are excluded, and corporate guarantees remain taxable. en-us Fri, 06 Nov 2015 13:16:40 +0530 Fri, 06 Nov 2015 13:16:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6508 Clause N exempts from service tax services by way of extending deposits, loans or advances and inter se sale/purchase of foreign currency among banks or authorised dealers, but only to the extent the consideration is represented by interest or discount; charges beyond interest/discount are taxable. Interest for service-tax purposes excludes service fees and other charges, creating a narrower scope than the Income Tax definition. Invoice discounting is covered only insofar as consideration is the discount, sales of forex to the public are excluded, and corporate guarantees remain taxable. Articles Service Tax Fri, 06 Nov 2015 13:16:40 +0530 https://www.taxtmi.com/article/detailed?id=6508