IGST is leviable on the interest component of EMI of loan advanced by the Bank through credit card
Quick Summary
Court :
Calcutta High Court
Brief :
The Hon'ble Calcutta High Court in Mr. Ramesh Kumar Patodia v. Citi Bank NA & Ors. [WPO 547 of 2019 dated June 24, 2022] held that interest component of Equated Monthly Instalments ("EMI") of the loan, through credit card services by a bank, attracts payment of Integrated Goods and Service Tax ("IGST").
Citation :
WPO 547 of 2019 dated June 24, 2022
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1999
(Excl. of GST ₹359)
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3499
(Excl. of GST ₹629)
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999
(Excl. of GST ₹179)
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Bimal Jain
Published in GST
Views : 825
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