Payment Mortgage Charges With Gst
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FAQ
The levy of GST on the amount paid as interest on late payment of invoices is based upon the ?test of supply?, i.e., one needs to satisfy whether the transaction is a supply, then only there will be a levy question of GST.
Remember, you can only claim GST on the purchase of the item at the time of the purchase. You cannot claim GST in each loan repayment related to the original purchase! Loans are financial supplies, therefore GST does not apply.
You cannot claim GST in each loan repayment related to the original purchase! Loans are financial supplies, therefore GST does not apply.
