https://www.taxtmi.com/caselaws?id=300639 Collection of delayed chit instalments, together with interest or penalty from defaulting subscribers, is treated as part of the foreman's service in conducting the chit and is therefore a taxable supply under GST. The amount is not exempt as interest on deposits, loans, advances, or actionable claims, because the chit fund mechanism is distinct and the receipts arise from the foreman's statutory role in administering the chit. The service is classifiable under Heading 9971 as services provided by a foreman of a chit fund in relation to a chit, with tax payable at the applicable intra-State or inter-State rate under the relevant GST notifications. en-us Mon, 21 Sep 2020 00:00:00 +0530 Wed, 19 Mar 2025 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300639 Collection of delayed chit instalments, together with interest or penalty from defaulting subscribers, is treated as part of the foreman's service in conducting the chit and is therefore a taxable supply under GST. The amount is not exempt as interest on deposits, loans, advances, or actionable claims, because the chit fund mechanism is distinct and the receipts arise from the foreman's statutory role in administering the chit. The service is classifiable under Heading 9971 as services provided by a foreman of a chit fund in relation to a chit, with tax payable at the applicable intra-State or inter-State rate under the relevant GST notifications. Case-Laws GST Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300639