https://www.taxtmi.com/article/detailed?id=10531 Where a bank extends a loan exclusively through a credit card product, processes EMIs and interest via the card account and statements, the service of extending that loan is characterised as credit card services, and the interest component of the EMI constitutes consideration for that service and is taxable under IGST; the court held that such interest does not fall within the exemption in Notification No. 09/2017-Integrated Tax (Rate). en-us Mon, 18 Jul 2022 09:18:38 +0530 Mon, 18 Jul 2022 09:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10531 Where a bank extends a loan exclusively through a credit card product, processes EMIs and interest via the card account and statements, the service of extending that loan is characterised as credit card services, and the interest component of the EMI constitutes consideration for that service and is taxable under IGST; the court held that such interest does not fall within the exemption in Notification No. 09/2017-Integrated Tax (Rate). Articles Goods and Services Tax - GST Mon, 18 Jul 2022 09:18:38 +0530 https://www.taxtmi.com/article/detailed?id=10531