Case LawGST-ARA-22/2018-19/B-85
Bajaj Finance Limited ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- Maharashtra
- Date:
- August 6, 2018
- Type:
- Advance Ruling
Subject
GST leviable on Penal Interest for default in EMI payment
Supply
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 (…
Judgement
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…