Is gst no is required for lending money to peoples
This query is : Resolved
27 November 2018
Sir, can u plz tell what type of registration is required for lending money in small amount to different peoples
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.
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.
29 November 2018
ok thanks sir, but plz tell me gst is applicable or not
29 November 2018
GST not applicable on money lending.
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