Service Tax Not Applicable on Surrender Charges for 2011-12: Considered Penalty, Not Service.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of service tax - on Surrender Charges, which are deducted from fund value, as per policy provisions for pre-mature withdrawal from the scheme - no service can be leviable for the period 2011-12 also as surrender charges towards renting of service being penalty.....