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Interest received from subsidiary company

28 November 2020

is interest received from subsidiary company on Outstanding balance is chargable to GST , If it is please Provide the GST rate & SAC Code ?

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3 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 28 November 2020

Yes.....

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 30 November 2020

Yes GST is applicable @ 18%

Saurabh Malani (32 Points)
Replied 01 December 2020

If it is related to some product eg :Cement, on cement gst rate is 28%, outstanding related to cement, then the applicable rate of is 28% or still in that case 18%?

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