https://www.taxtmi.com/caselaws?id=270052 Interest is excluded from the taxable value for service tax under banking and other financial services because the statutory amendment and Board circular treat it as outside consideration for the service, so the demand on interest income is not sustainable. Hire purchase services provided by a body corporate were taxable only when the statutory conditions and applicable taxable period were both satisfied; transactions entered into before 16.08.2002 remained outside the levy unless the vehicle delivery and taxable event fell within the later taxable window. The text also notes that surviving demand requires recomputation on the basis of delivery dates, with penalty treated as consequential and eligible for reduction if paid within the prescribed time. en-us Fri, 04 Sep 2015 00:00:00 +0530 Sat, 14 May 2016 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270052 Interest is excluded from the taxable value for service tax under banking and other financial services because the statutory amendment and Board circular treat it as outside consideration for the service, so the demand on interest income is not sustainable. Hire purchase services provided by a body corporate were taxable only when the statutory conditions and applicable taxable period were both satisfied; transactions entered into before 16.08.2002 remained outside the levy unless the vehicle delivery and taxable event fell within the later taxable window. The text also notes that surviving demand requires recomputation on the basis of delivery dates, with penalty treated as consequential and eligible for reduction if paid within the prescribed time. Case-Laws Service Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270052