gst applicable
jimmy karia (105 Points)
03 August 2017
is gst applicable on bank charges? we have to do rcm? and gst applicable on car interest and home loan ineterest?
2 Replies
Chhatra Singh Dugar
(1464 Points)
Replied 03 August 2017
For Car Loan & Home Loan 15% Service Tax in earlier regime will be replaced by 18 & GST in new regime. As a result processing fee & prepayment charges ( where applicable ) will be high in GST regime resulting in higher EMI
Sandeep Upadhyay
(1518 Points)
Replied 03 August 2017
Yes GST applicable on bank charges
GST not applicable on interest
GST not applicable on interest
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