POSTED BY March 5, 2013 12:25 pm COMMENTS (19)ON
I have standard chartered bank titanium credit card and ,
In my last credit card statement, I was charged a service tax of Rs:63.
I contacted bank , and they said that : ST(Serive tax) is not charged on retail transactions, but it is charged on card fees,late fees and other applicable charges.
In that particular month I had swiped for a pretol pump transaction for Rs: 650, and transaction charges of Rs:16 were applicable for the same.(2.5%).
I also had, a few IRCTC ticket booking transaction, on which bank charges 1.65% of charges.
So can you tell me on what basis this service tax is applied?
Is it applicable @ 12.36% on all such additional charges paid?
Bank personnel was not able to explain it to me.