Whether GST is liable on interest?

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22 Points Posted on 28 August 2020
I have a business of lending loans to individuals, firms and corporates after charging interest. Will the interest income earned from the unsecured loans liable to gst?
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On 28 August 2020 at 17:36 Report
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Quick Summary
This discussion clarifies whether GST is liable on interest earned from lending unsecured loans to individuals, firms, and corporates. The consensus is that interest income from loans and advances is generally exempt from GST. The query also briefly touches upon HSN codes for packing materials.

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Tax and Business Consultant
11616 Points Posted on 28 August 2020
No, Interest on Loans and Advances is Exempt from Tax...
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On 28 August 2020 at 18:00
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67 Points Posted on 29 August 2020
HSN COD of Packing meterial
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On 29 August 2020 at 06:31

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