Court Rejects Service Tax on Loan Restructuring Premiums; Not Classified Under 'Banking and Financial Services'.

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....Levy of service tax - banking and other financial services - premium on interest restructuring of loan as interest on loans - It is not possible to accept the contention of the Department that restructuring premium charged by the respondent would fall under ‘lending’ and would be subjected to levy of service tax under ‘banking and other financial services’. - AT....