GST APPLICABLE ON INTEREST ON LOAN FROM CREDIT CARD OR PERSONAL LOAN

Dear Sir Kindly clarify whether GST Applicable on INTEREST On Loan from Credit Card or Personal Loan.

Because Every Month GST Charged in Credit Card Statement.

Replies (2)
Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable on the interest charged for credit card advances or personal loans. The consensus is that GST is indeed applicable to this interest, as evidenced by monthly GST charges appearing on credit card statements.

Yes, GST is applicable on interest over CC/PL loan.

Thank u very much sir

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