Regarding Kacha Arhatiya

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89 Points Posted on 19 April 2020
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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On 19 April 2020 at 17:38 Report
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This discussion clarifies the Goods and Services Tax (GST) liability for Kacha Aratiyas concerning interest earned. GST is payable on interest charged to debtors for delayed payments, as per Section 15 of the CGST Act 2017. However, interest earned from advancing loans is generally exempt from GST.

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Student
23693 Points Posted on 19 April 2020
Rakesh Sir can you explain briefly what is Kacha Arhatiya ???
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On 19 April 2020 at 18:03
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602 Points Posted on 20 April 2020
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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On 20 April 2020 at 09:35

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