https://www.taxtmi.com/circulars?id=67725 Extending loans/credit/advances between related persons is a supply under Schedule I read with section 7(1)(c), but services of granting loans are exempt insofar as consideration is only interest or discount. Amounts charged over and above interest-such as processing, administrative or service fees-constitute taxable consideration for processing/facilitating/administration services and attract GST; where no such fees are charged between related parties, no processing supply arises and Rule 28 valuation need not be applied. en-us Thu, 04 Jul 2024 00:00:00 +0530 Wed, 07 Aug 2024 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67725 Extending loans/credit/advances between related persons is a supply under Schedule I read with section 7(1)(c), but services of granting loans are exempt insofar as consideration is only interest or discount. Amounts charged over and above interest-such as processing, administrative or service fees-constitute taxable consideration for processing/facilitating/administration services and attract GST; where no such fees are charged between related parties, no processing supply arises and Rule 28 valuation need not be applied. Circulars GST - States Thu, 04 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67725