https://www.taxtmi.com/circulars?id=62110 The circular distinguishes two scenarios: penal interest charged by a seller on instalment sales is included in the value of the taxable supply of goods and is subject to GST, whereas penal interest charged by a separate lender on a loan repayment qualifies as interest under the exemption notification and is not subject to GST; non-interest service fees levied by lenders are not exempt. en-us Mon, 22 Jul 2019 00:00:00 +0530 Thu, 08 Aug 2019 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62110 The circular distinguishes two scenarios: penal interest charged by a seller on instalment sales is included in the value of the taxable supply of goods and is subject to GST, whereas penal interest charged by a separate lender on a loan repayment qualifies as interest under the exemption notification and is not subject to GST; non-interest service fees levied by lenders are not exempt. Circulars GST - States Mon, 22 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62110