NBFCs not liable to pay Service Tax on Risk Interest on Gold Loan: CESTAT [Read Order]

NBFCs - pay - Service Tax - Interest on Gold Loan - CESTAT - taxscan

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore bench has held that the Non-Banking Financial Companies (NBFC) are not liable to pay service tax on the amount of risk interest charged on gold loans. The appellants are Non-Banking Financial Company (NBFC), are engaged in the business of lending money against security of gold/ornaments…

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