https://www.taxtmi.com/caselaws?id=447136 An incentive paid by a State Government to cooperative banks under a lending-linked scheme was held to be performance-linked remuneration, not a subsidy to borrowers. Because the payment depended on achievement of lending targets and varied with disbursement, it fell within the statutory meaning of consideration under the CGST Act, while the subsidy exclusion applies only to subsidies granted by the Central or State Government in the relevant sense. The amount was also not treated as falling within Schedule III, as an actionable claim, or as exempt differential interest. The exemption notification plea failed because exemption must be strictly construed and the claimed exemption was not established. en-us Thu, 07 Dec 2023 00:00:00 +0530 Tue, 22 Apr 2025 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447136 An incentive paid by a State Government to cooperative banks under a lending-linked scheme was held to be performance-linked remuneration, not a subsidy to borrowers. Because the payment depended on achievement of lending targets and varied with disbursement, it fell within the statutory meaning of consideration under the CGST Act, while the subsidy exclusion applies only to subsidies granted by the Central or State Government in the relevant sense. The amount was also not treated as falling within Schedule III, as an actionable claim, or as exempt differential interest. The exemption notification plea failed because exemption must be strictly construed and the claimed exemption was not established. Case-Laws GST Thu, 07 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447136