How GST will be charged if loan of one bank is taken over by another bank

By | June 4, 2018
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(Last Updated On: June 4, 2018)

Will GST be charged in transactions, where loan of one bank is taken over by another bank?

GST will be chargeable on any transaction processing fees levied for such takeover of loans, but not on the interest component (as interest is exempted).

 

Q 62 of GST FAQs on Financial Services Sector published by CBIC

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