Shreenath Polyplast Pvt Ltd ., In re
Date: July 24, 2018
Subject Matter
Service provided by a Del Credere Agent by way of extending short term loans in so far as the consideration is represented by way of interest is exempted from GST. AAR ruling upheld.
Summary
The applicant, M/s. Shreenath Polyplast Pvt. Ltd. has raised the following questions for advance ruling – “Whether an amount charged as interest on transaction based short term loan given by the Del Credere Agent (DCA) to buyers of materi…
M/s. Shreenath Polyplast Pvt. Ltd. raised the following questions for advance ruling:- “Whether an amount charged as interest on transaction based short term loan given by the Del Credere Agent (DCA) to buyers of material is exempt from tax in terms of the Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (Serial Number 27) ? 2.1 It was submitted in the application for Advance Rul…