Bajaj Finance Limited ., In re
Date: August 6, 2018
Court: Authority for Advance Ruling
Bench: Maharashtra
Type: Advance Ruling
Subject Matter
GST leviable on Penal Interest for default in EMI payment
Summary
Question 1.:- Whether the Penal Interest is to be treated as interest for the purpose of exemption under Sr. No. 27 of Notification No. 12/2017 Central Tax (Rate) dated 28.06.2017 , Sr. No. 27 of Maharashtra State Notification No. 12/2017-State Tax (…
The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act”] by Bajaj Finance Limited, the applicant, seeking an advance ruling in respect of the following questions:- i) Whether the Penal Interest is to be treated as interest for the…