MOST of us have credit cards.
All these holders will have to brace up to pay more on their dues. The Government has imposed a 5 per cent service tax on the credit facility offered by credit cards. This is with effect from July 16.
The Government is leaving nothing out. This tax will apply on all charges, including interest and annual payments. Services rendered prior to July 16 will not be liable for the service tax. This is the saving grace and will apply even if payment is made after July 16. So, if you have some buying plans, use your card before July 16 to avoid some charges on the near-term usage. -- BL Research Bureau
Posts
