Dear Sir/Madam,
I am using ICICI bank credit card.
I am having due outstamdng of 1,04,000 rupess. my credit limit is 74,000.
Every month i am paying the minimum amount due.
Bank is charging me service service tax of 12.3% on interest charges.
there are also charging me overlimit charge + Service tax+late payment + service tax
Can bank charge the service tax on interest amount? is it legal
Asked on 11/02/11, 10:30 pm
1 Answer from Attorneys
Chandrawat, Call- +91-8109444689
Litigation Expert & Legal Advisor ([email protected])
Yes in all together herein referred as over limit charges + Service tax + late payment charges as agreed between bank and customer at the initial time itself of availing credit card services and held legal.
Answered on 11/03/11, 3:56 am
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