Menu
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
Replies (2)
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.
Recent Topic
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
Related Topics
CAclubindia
