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HomeIndirect TaxesInterest Earned on Loans Not Consideration for Service Tax: CESTAT

Interest Earned on Loans Not Consideration for Service Tax: CESTAT

Indirect Taxes

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By Mariya Paliwala
cestat

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The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Bench, has held that interest earned on loans cannot be treated as consideration for taxable services and therefore cannot be categorized as an “exempt service” for the purpose of reversal of Cenvat credit.  The bench of P. Dinesha (Judicial Member) has observed that while the…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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