https://www.taxtmi.com/forum/issue?id=113471 Interest on gold loans is treated as interest on loans which is an exempted service attracting a nil GST rate; loans include gold loans and therefore interest on such loans is not subject to GST. Because this interest income is an exempt supply, the provider is required to reverse input tax credit attributable to exempt supplies unless the supplier has availed the alternative partial ITC mechanism (the 50% scheme under Rule 38). en-us Fri, 09 Mar 2018 22:22:56 +0530 Thu, 23 Jan 2025 15:55:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113471 Interest on gold loans is treated as interest on loans which is an exempted service attracting a nil GST rate; loans include gold loans and therefore interest on such loans is not subject to GST. Because this interest income is an exempt supply, the provider is required to reverse input tax credit attributable to exempt supplies unless the supplier has availed the alternative partial ITC mechanism (the 50% scheme under Rule 38). Discussion-Forum GST Fri, 09 Mar 2018 22:22:56 +0530 https://www.taxtmi.com/forum/issue?id=113471