Hello... pls let me know whether GST paid on interest on housing loan EMI can be claimed while filing GST return..
1. Home loan not in business entity name. It is in individual name.
2. If home loan availed in business entity name.
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GST credit on home loan interest
Replies (14)
First of give correct details...
The GST charged on Interest on Home loan...?!
The GST charged on Interest on Home loan...?!
For point no. 1. ITC cannot be claimed.
Point no. 2 home loan sanctioned on home. So it becomes personal.
Point no. 2 home loan sanctioned on home. So it becomes personal.
How can you claim ITC, no GST applicable on Intetest on loan
Yes Raja P M... like how service tax was applicable earlier on interest part..Now GST..
Dear Mr Murali.,
ST/GST is applicable for Bank's service activities not on Interest...
They Collect ST/GST for their services like "Inspection Charges, Processing Charges, Site Visiting or Valuation Charges and etc.,.
But, Not collect for the Interest...
Bcoz, It's not their Service...
**Please check out Your statement of Loan Process and It's Repayment Schedule...
GOOD LUCK...
ST/GST is applicable for Bank's service activities not on Interest...
They Collect ST/GST for their services like "Inspection Charges, Processing Charges, Site Visiting or Valuation Charges and etc.,.
But, Not collect for the Interest...
Bcoz, It's not their Service...
**Please check out Your statement of Loan Process and It's Repayment Schedule...
GOOD LUCK...
Agree with Mr. Raja P M Sir
Nice explanation
Mr. Raja sir and Jatin sir are we sure no GST will be levied on any interest on loan ??
Yes... It's sure...
Please check out Your statement.
Please check out Your statement.
I checked my Statement... I am paying IGST @ 18 percent on interest component included in EMI portion!!!!!..The bank is in different state from the state where I am residing
Yes. ..
| Originally posted by : Murali Rotti Sathyanarayana | ||
 |
I checked my Statement... I am paying IGST @ 18 percent on interest component included in EMI portion!!!!!..The bank is in different state from the state where I am residing |  |
As per Your reply "Bank is Charged GST on Interest amount then Contact Your bank and Ask the details then recover the amount....
Also you can get some clarity in the following link
https://www.quora.com/Do-banks-charge-GST-on-the-interest-of-a-loan
Raja sir is right
Raja P.M., I have been informed by the bank that GST is applicable on personal loan interest taken through credit card and it's not applicable if I take just a personal loan (not through credit card)... Please confirm
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