Loan facility to credit card holder not a credit card service, exempt from GST
Last updated: 04 August 2023
Court :
Calcutta High Court
Brief :
The Hon'ble Calcutta High Court in Ramesh Kumar Patodia v. City Bank N.A. and Ors. [APO 10/2023 with WPO 547/2019 dated July 25, 2023] held that the loan facility availed by a credit card holder, where being a credit card holder is a condition for eligibility, is not considered a credit card service. Instead, it is treated as a standard loan which is exempt under GST. Directed the bank to refund the GST collected from the assessee.
Citation :
APO 10/2023 with WPO 547/2019 dated July 25, 2023
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Bimal Jain
Published in GST
Views : 218
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