Effective rate applicable

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....ffective rate applicable<br> Query (Issue) Started By: - Bashiruddin shaikh Dated:- 4-6-2009 Last Reply Date:- 7-6-2009 Service Tax<br>Got 1 Reply<br>Service Tax<br>Service Tax liability under the ca....

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....tegory of Banking and other financial service for hire purchase agreement of an equipment. Principal amount - Rs.200000.00 Monthly Interest amount - Rs. 10000.00 Service tax payable on the above as pe....

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....r effective rate vide Notification No. 4/2006 ST dated 01.03.06 Reply By Markesh Antony: The Reply: Exemption from service tax has been provided to financial leasing services including equipment lea....

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....sing and hire-purchase, both for principal and interest portion of the installments paid. The amount of interest is calculated as 90% of the difference between the installment paid towards the payment....

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.... of the lease amount and the principal amount in such installment. (Notification No.4/2006 -Service Tax dated 1.3.2006)<br> Discussion Forum - Knowledge Sharing ....