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GST on interest on loan, Goods and Services Tax - GST |
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GST on interest on loan |
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PQR (Mexico) is a Subsidy of XYZ (India). Loan had been given in US$ by XYZ (India) to PQR (Mexico) and the principal amount along with interest is paid back to XYZ (India) again in US $ and the same is deposited in the Indian bank having foreign currency account. Is XYZ required to pay GST on the interest amount received from PQR? Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Services by way of extending loans is exempt vide entry 27 of Notification No. 12/2017- Central Tax (Rate). XYZ is not liable to pay GST Page: 1 Old Query - New Comments are closed. |
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