Daimler Financial Services Private Limited ., In re
Date: April 15, 2019
Court: Authority for Advance Ruling
Bench: Tamil Nadu
Type: Advance Ruling
Subject Matter
Interest subvention to Mercedes captive finance arm attracts GST
Summary
Q) Whether the interest subvention income received by Daimler Financial Services India Private Limited (DFSI) from Mercedes-Benz India Private Limited (MB India) to reduce the effective interest rate to the final customer is chargeable to GST? A)&nbs…
M/s. Daimler Financial Services Private Limited , No. 3, Unit 301,302, RMZ Millenia Business Park, Perungudi, Chennai-600096 (hereinafter called as Applicant or DFSI ) is registered in GST vide GSTIN 33AADCD6300J1Z1. They have stated that they are registered with Central Bank of India as a non-banking financial institution engaged in the activities of “Leasing and Finance” which includ…