GST
This query is : Resolved
pawankumar
(Querist)
10 October 2017
Hai a registered person in TN getting loan from unregistered person feom KA
for Rs. 10L will it affect GST
Dr. ShamsheerKhan
(Expert)
10 October 2017
Definitely, it attract reverse charge on service charges charged if you had taken it between July to September. If it is charged in this month then no matter as RCM is suspended up to end of March 2018
pawankumar
(Querist)
12 October 2017
Thank you sir..
Dr. ShamsheerKhan
(Expert)
12 October 2017
You are welcome......
31 October 2026
Taking a loan is not a supply, and interest paid on a loan is an exempt service, so a loan from an unregistered person in another state attracts no GST or RCM at all; only separate processing or service charges, if any, would be taxable.
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