Gst on emi transaction
This query is : Resolved
30 November 2018
I had purchased a LED on EMI of 9 months on my credit card(zero interest and zero processing charges). The bank is charging me gst on interest part of the EMI. I have read that gst is not applicable on interest. Kindly clarify
01 December 2018
GST not applicable on interest. But gst applicable on any charges made by credit card including interest as per gst provisions.
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11 December 2018
Thanks for the reply Sir. Can u elaborate on "gst applicable on any charges made by credit card including interest as per gst provisions"
Do you mean any penality on interest, penal Interest charges or pure interest.
Do you mean any penality on interest, penal Interest charges or pure interest.
13 December 2018
GST applicable on all charges including interest, penal interest and penalty.
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16 December 2018
Thanks a ton for the info
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