Service Tax on ATM Interchange

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ervice Tax on ATM Interchange<br> Query (Issue) Started By: - VENKATRAMAYYA K Dated:- 30-12-2014 Last Reply Date:- 14-1-2015 Service Tax<br>Got 3 Replies<br>Service Tax<br>At present, Acquiring banks ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....are charging of &#8377; 15+(1.85 service tax) to Issuing banks for each ATM cash withdrawal transaction. Issuing banks are recover &#8377; 20 (including service tax 17.80+2.20) from their customers. I....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... would like to know whether issuing banks needs to pay the service tax of &#8377; 2.20 or &#8377; 0.35 (2.2-1.85). Please suggest. Reply By PAWAN KUMAR: The Reply: Dear Sir, As per my view, issuing....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... banks need to pay service tax of &#8377; 2.20. Reply By VENKATRAMAYYA K: The Reply: Hi, Thanks for sharing your view. Issuing bank can adjust the service tax of &#8377; 1.85 paid by Acquiring bank....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... with recovered from customer of &#8377; 2.20 as the transaction is same. Isn&#39;t double tax if issuer pay service tax of &#8377; 2.20. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Thanks for the e....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....xperts sharing their views in this regard.<br> Discussion Forum - Knowledge Sharing ....