Question ID :
SERVICE TAX LIABILITY ON CREDIT CO OPERATIVE SOCIETY
A credit co operative society is accepting deposits and lending to its members and accordingly earns interest income. It also provide some other services like railway ticketing and running electricity bills collection centre from which it is receiving commission income from IRCTC and PGVCL.
Interest income - 25 Lacs
Commission Income - 1.5 Lacs
What are the service tax implications in the instant case.
DARSHAK MAGANLAL THAKKAR
Oct 14, 2021