Is the GST applicable on credit card payments.?

ITC / Input 207 views 2 replies
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.
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


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register