This discussion clarifies how Goods and Services Tax (GST) applies to purchases made on an Equated Monthly Instalment (EMI) basis, specifically for electronic devices. GST is levied on the sale price and any associated service charges, but importantly, it is not applicable to the interest component of the EMI. The example illustrates that the GST is calculated on the device's sale price plus any down payment, with the final amount payable by the customer reflecting this tax.
07 October 2022
How gst applicable on emi.. suppose a electronic devices which sale price is 80,000 and also emi facility available. some down payment is also done. how to calculate gst liability..