https://www.taxtmi.com/caselaws?id=367596 Services by way of extending loans or advances are exempt only when the consideration is represented by interest or discount under the relevant exemption entry. The notification expressly excludes service fees and other charges from the definition of interest, so amounts recovered as service charges or borrowing cost do not fall within the exemption. On the stated facts, the society charged members service charges instead of interest or discount, and the lending activity was therefore taxable under GST. en-us Thu, 16 Aug 2018 00:00:00 +0530 Sat, 22 Feb 2025 11:06:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367596 Services by way of extending loans or advances are exempt only when the consideration is represented by interest or discount under the relevant exemption entry. The notification expressly excludes service fees and other charges from the definition of interest, so amounts recovered as service charges or borrowing cost do not fall within the exemption. On the stated facts, the society charged members service charges instead of interest or discount, and the lending activity was therefore taxable under GST. Case-Laws GST Thu, 16 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367596