https://www.taxtmi.com/caselaws?id=383927 The Appellate Authority for Advance Ruling (AAAR) upheld the ruling that bounce charges collected by the appellant constitute a supply of services under Schedule II to the CGST Act. The AAAR concluded that the appellant tolerating the default by borrowers falls under the provisions of entry 5(e) of Schedule II, making it a taxable supply under GST. The bounce charges were considered as consideration for the supply of services, falling within the ambit of 'supply' under the GST regime. International rulings were deemed not binding, and the bounce charges were to be included in the value of the loans as interest, exempt from GST. en-us Thu, 14 Mar 2019 00:00:00 +0530 Tue, 11 Mar 2025 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383927 The Appellate Authority for Advance Ruling (AAAR) upheld the ruling that bounce charges collected by the appellant constitute a supply of services under Schedule II to the CGST Act. The AAAR concluded that the appellant tolerating the default by borrowers falls under the provisions of entry 5(e) of Schedule II, making it a taxable supply under GST. The bounce charges were considered as consideration for the supply of services, falling within the ambit of 'supply' under the GST regime. International rulings were deemed not binding, and the bounce charges were to be included in the value of the loans as interest, exempt from GST. Case-Laws GST Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383927