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Bank Interest Income...

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Pankaj Rawat

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 20 April 2020

IN my opinion it's supply of Services which is Exempted. (As per Notification 12/2017 CT (R) )

As per the Defination of Services u/s 2(102) of CGST Act : means anything other than goods, money & securities but ACTIVITIES RELATING TO USE OF MONEY ............
Bank pay Interest in lieu of Deposit.
Customer keeps money by depositing in bank & receiving Interest for that.
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Shivam RC

Shivam RC (Student) (23683 Points)
Replied 21 April 2020

@ Finn Walsh, kindly try to avoid these type of posts in this forum. This is not the correct forum to post all these advertisement.
1 Like

Pankaj Rawat

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 14 May 2020

Moreover it's being already prescribed in Notification 12/2017 CT (R) , that it's supply of Services which is Exempted.


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