Whether GST applies on lending money by way of discounting of LC or discounting of Bill of Exchange or discounting of invoice?
Under exemption list as approved by GST-C (GST Council) , they are exempt only so far as the consideration is represented by way of interest or discount. [ Refer Point No 8 of Exemption list ]
[ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ]
