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of Interest charges by HDFC Bank Ltd on loans are an inward supply of exempted services for the applicant. As per Notification No. 12/2017-Central Tax (Rate), services by way of extending deposits, loans or advances, where consideration is interest or discount (excluding credit card services), are exempt from GST. Since HDFC Bank is a registered person under GST, the supply of exempted services by way of interest on loans constitutes part of the applicant's total inward supply for computing the 80% threshold limit. The Advance Ruling Authority held that such interest charges qualify as inward supply from a registered supplier for calculating the 80% threshold.
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