Service Tax

All the constituents of ADCB-India are being notified that with effect from September 10, 2004, Service Tax (as per directives of Govt. of India) at the rate of 10 % plus 2% Education Cess (Total 10.2%) has been imposed and being recovered on the commission/fees attendant to the following banking and financial services provided by our Bank:

The taxable services broadly covers the following:

• Fees for loan processing, syndication, commitment, bank guarantee commission, etc.
• Commission on bills collected/purchased, on export/import bills and cheques collected/purchased.
• Issue of pay order, cheque, demand draft, letter of credit, wire transfers and bill of exchange.
• DD/PO revalidation/cancellation charges.
• LC issuance/amendment/confirmation/advice charges, etc.
• Cheque book charges, cheque collection charges, cheque purchase charges, etc.
• Non-maintenance of balance charges, etc.
• Transaction charges, funds transfer, balance enquiry charges, etc.
• Safe deposit lockers/vaults rental charges.

Our Bank's Mumbai branch Service Tax Registration no. is BFS/MUM-I/105.