Please let me know through inclusion of which words, clauses interest income (interest on fixed deposits/loans & advances) has be brought under the preview of GST & the notification through which it has been exempted from GST.
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Interest income & goods and services tax
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| Originally posted by : Hemanth Ranka | ||
 |
Please let me know through inclusion of which words, clauses interest income (interest on fixed deposits/loans & advances) has be brought under the preview of GST & the notification through which it has been exempted from GST. |  |
Under Heading 9971 Nill Rate Apply before GST this service cover under Negative List of Service Tax
| Heading 9971 | Services by way of— (a) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount (other than interest involved in credit card services); |
interest income will not come under GST
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