i have a business of providing finance for two wheeler and four wheeler vehicle. in that case GST is applicable???
if applicable, on which interest amount????
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Applicability of GST on interest income
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I think GST is not applicable.
GST is NOT applied on loan repayment or interest payment of the loan. Rather it is levied on the processing charges, pre-payment charges, and other personal loan charges paid to the bank or lender.
GST is NOT applied on loan repayment or interest payment of the loan. Rather it is levied on the processing charges, pre-payment charges, and other personal loan charges paid to the bank or lender.
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