GST on Documentation charge

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Student
110 Points Posted on 29 November 2020
is it GST charge on documentation charges for review/renewal of CC loan account by the respective bank ?
if charge, in which rate ?
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On 29 November 2020 at 22:13 Report
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This discussion clarifies whether Goods and Services Tax (GST) is applicable to documentation charges levied by banks for the review or renewal of CC loan accounts. The consensus is that GST is indeed applicable to these banking charges. The standard rate of 18% GST applies, with the relevant Service Accounting Code (SAC) being 997158.

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Student
23693 Points Posted on 29 November 2020
Yes, GST @ 18% is applicable on Banking Charges ( like documentation charges etc )...
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On 29 November 2020 at 22:26
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1313 Points Posted on 30 November 2020
Yes. 18% GST applicable.
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On 30 November 2020 at 20:44
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GST Practitioner
55067 Points Posted on 30 November 2020
Yes GST attracts @ 18%
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On 30 November 2020 at 23:06
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QUALIFIED CHARTERED ACCOUNTANT
613 Points Posted on 01 December 2020

GST Rate 18%, SAC 997158

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On 01 December 2020 at 14:37

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