A Gst dealer Gold Loan from Bank rs:5 lacs and interest from cash loan debtors rs:1,80,000/- received.
question:
dealer above two transactions gst applicable.
As per the entry no. 27 of Notification No. 12/2017- Central Tax (Rate) dated 28.06.2017, GST is applicable only on processing fees and or any service charges, but not over interest amount.
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