Hello.
In case of credit card, if you are regular with your payments , the GST regime will have no impact. However, if you are late on payment, the credit card company charged you some fee/ penalty . such fees will attract 18% Tax under GST and will marginally increase your overall credit card dues if you make a payment after the due date.
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Is the GST applicable on credit card payments.?
Replies (2)
Yes , its true & according to Act
yes, penalty and fees are payable to GST resulting to increase of cash outflow for a credit card holder
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