Interest
This query is : Resolved
GANGADHARA RAO
(Querist)
05 April 2021
Sir One of our client is traders in handloom sarees, he was registered under GST act as regular, he has filed continuously and paid due taxes also, and his turnover is more than 2 crore, but in this year he has give a loan of Rs 500000-00, to his friends and received interest on the loan, my question is interest is exempt or taxable under gst. .... please
CA R SEETHARAMAN
(Expert)
05 April 2021
Interest is exempt from GST.
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