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Regarding Kacha Arhatiya
interest receive by kacha arhatiya on delayed payment And sometime he receive interest on advancing loan then is GST payable on which interest delayed payment or loan advancing
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Rakesh Sir can you explain briefly what is Kacha Arhatiya ???
If you charge interest on delayed payment from Debtor than you will have to chage GST in accordance with section 15 of CGST 2017 on such interest but if you earn interest on by given loan than it shall be exempted from GST. Interest is exempt when it is chaged on amount given to use for any use for which you chaged Interest as consideration.
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