the credit card companies charge GST on the monthly bill raised , though we have already paid GST on the purchases made.Please clarify with reason for this discrepancy.
S.Gupta c/o KPS (NA) (187 Points)
25 March 2019the credit card companies charge GST on the monthly bill raised , though we have already paid GST on the purchases made.Please clarify with reason for this discrepancy.
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 25 March 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 25 March 2019
The GST is levied over services provided by the card provider, including interest levied over the card etc. But not over your expenses/purchases.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
