IN my opinion it's supply of Services which is Exempted. (As per Notification 12/2017 CT (R) )
As per the Defination of Services u/s 2(102) of CGST Act : means anything other than goods, money & securities but ACTIVITIES RELATING TO USE OF MONEY ............
Bank pay Interest in lieu of Deposit.
Customer keeps money by depositing in bank & receiving Interest for that.
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Bank Interest Income...
@ Finn Walsh, kindly try to avoid these type of posts in this forum. This is not the correct forum to post all these advertisement.
Moreover it's being already prescribed in Notification 12/2017 CT (R) , that it's supply of Services which is Exempted.
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