Gst on interest paid
This query is : Resolved
15 August 2018
We have to pay interest on loans taken. Have we to add gst on that Advice which of the following 2 options
1. Interest 1,00,000
gst 18,000
total 1,18,000
tds @ 10 % 10,000
to pay 1,08,000
Option 2 Interest 1,00,000
tds 10,000
to pay 90,000
Pl advice.
Mona
1. Interest 1,00,000
gst 18,000
total 1,18,000
tds @ 10 % 10,000
to pay 1,08,000
Option 2 Interest 1,00,000
tds 10,000
to pay 90,000
Pl advice.
Mona
16 August 2018
Ok means its not my liability to charge or pay gst...pl clarify
16 August 2018
GST not applicable on Interest
Message likes :
1 times
16 August 2018
Services by way of extending deposits, loans or advances where the consideration is represented by interest is an exempt supply as per Notification 12/2017 -CGST- Central Rate; Hence there is no liability to charge or pay GST on interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
