Interest Charges to be Treated as Inward Supply for Calculating 80% Threshold Limit under GST: AAR [Read Order]

The primary question posed by the Applicant pertained to the includability of interest charges against finance scheme as an inward supply
By Avinash Kurungot - On October 4, 2024 6:13 pm - 2 mins read
GST - AAR - West Bengal AAR - GST Threshold Limit - TAXSCAN

The West Bengal Authority for Advance Ruling ( AAR ) recently ruled that Interest Charges levied by a financing bank against loan availed by the Applicant can be treated as an ‘Inward Supply’ while computing the 80% threshold limit for supplies to be received from registered suppliers. The Application was filed by Mangalam Developers, an…

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