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.

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