Gst applicable or not ?

280 views 7 replies

Hi,

we have two companies , our one company gave 1.5 cr Short term loan to our sistern conccern compnay @ 14% P.A.

now i need to raise invoice for this so i can i charge GST on this transaction ???

 

Thanks !!

 

Replies (7)

GST means a tax on supply of goods or supply of services. 

Read more at: https://www.caclubindia.com/articles/brief-analysis-on-scope-of-supply-in-gst--32343.asp

No supply of goods or supply of services.

No GST invoice

GST applicable.

No Gst charge on interest

(a) extending deposits, loans or advances
in so far as the consideration is
represented by way of interest or discount (other than interest involved in credit card
services); is covered under exemption list hence GST not applicable

 

We have paid Rs.47000/- through bank and challan status is showing as paid, but amount is not reflecting in cash ledger or offset ledger , In bank amount is debited , cash paid on 18/1/18 please help out immediately , Complaint launched in gst helpdesk greivence but there is no proper response 

The following is covered under exemption list (Notification 12/2017-Central Tax(Rate))

extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount (other than interest involved in credit card services);

Hence, GST  is not payable

Hi All,

 

Thank for reply, can you please provid any notification for the same.

 

Thanks !!


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register