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GST on interest received
If I'm raising Dr. note for interest received on Funding to customers, then is it GST applicable on that, if yes then @ what rate n under which HSN code ?
Replies (4)
GST is not applicable on interest
Gst applicable on interest paid on purchase goods. Please see the valuation rules
The rate @ which the goods was chargeable to tax
Service charge, penalty,overdue charge @ 18%
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