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I have taken a loan for my business purpose. When i repay the loan periodically, will i get deduction of principal repayment of the loan ?
Thank you.
No. Only interest amount can be deducted under income head PGBP.
Abinash Panda (80 Points)
23 February 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 23 February 2023
No. Only interest amount can be deducted under income head PGBP.
MPR Sanjay Kumar
(2979 Points)
Replied 23 February 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 23 February 2023
Packing, loading, hauling, unloading, unpacking, and rearranging are all major services. As a result, they impose 18 percent GST on everything.
For more details refer: https://tallysolutions.com/gst/gst-on-freight/
Note::
If the entire supply falls under composite supply, then gst shall be charged at the rate that applies to principal supply... If it is a mixed supply, then the gst rate shall be highest rate of all supplies I.e., 18% But if it is a mixed supply better to raise separate invoices and pay respective gst rate which is applicable for items...
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