GST ON GOLD LOAN INTEREST

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..... GST ON GOLD LOAN INTEREST
Query (Issue) Started By: - raja raja Dated:- 9-3-2018 Last Reply Date:- 13-3-2018 Goods and Services Tax - GST
Got 4 Replies
GST
Dear Experts , Pl clarify GST .....

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..... applicability on gold loan interest Thanks in advance Reply By Rajagopalan Ranganathan: The Reply: Sir, Vide Sl. No.27 of Notification No. 12/2017-Central Tax (Rate) dated 28.6.2017 as amended rat .....

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..... e of gst on "Services by way of 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 ser .....

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..... vices) is 'Nil'. 'Loans include gold loan also. Reply By KASTURI SETHI: The Reply: Gold loan is one of the types of loan. Reply By Ganeshan Kalyani: The Reply: Accordingly, no GST is a .....

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..... pplicable on interest on loan. Reply By Gunjan Shah: The Reply: Since it will be exempted service under GST. You will be required to reverse ITC. Unless already opted for 50% scheme under Rule 38.< .....

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..... br> Discussion Forum - Knowledge Sharing .....

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