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Which of the ...

Question

Which of the following services provided by a bank in India is not liable for Service Tax as per existing laws?

A

Safe Deposit Lockers

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B

Merchant Banking Services

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C

Credit cards

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D

Discount earned on certain discounted bills

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Solution

The correct option is B Discount earned on certain discounted bills
Discount earned on certain discounted bills- this service provided by a bank in India is not liable for Service Tax as per existing laws. This means that an individual need not pay any service tax on discount earned on certain discounted bills.

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