Is gst no is required for lending money to peoples

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vipul khanna (Querist)
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27 November 2018 Sir, can u plz tell what type of registration is required for lending money in small amount to different peoples

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 November 2018 GST number is not required. Money lender license is usually granted by the Revenue Department within 3 to 4 months from the date of submission of the application form. Once the application is received, it is valid for one year. However, there are a few factors that have to be taken into consideration while issuing/renewal/endorsement of a license:

Whether the person has the competency to run a money lending business.
Whether the applicant’s premise is an apt place to run the business.
Whether granting the permission would be against the public interest.

vipul khanna

vipul khanna (Querist)
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29 November 2018 ok thanks sir, but plz tell me gst is applicable or not

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 November 2018 GST not applicable on money lending.

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