Court Rules Interest on Credit Card EMI Loans Taxable Under IGST; Interest Not Exempt from GST.

Levy of IGST - credit card services - interest component of the Equated Monthly Instalments (EMI) of the loan granted by the respondent Bank on credit card - he services rendered by the bank by way of extending loans to the petitioner in the instant case amounts to credit card services, the interest component of EMI of the said loan is nothing but interest involved in credit card services which is not exempted from GST - HC .....

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