https://www.taxtmi.com/circulars?id=69969 Loans, credit, or advances between related persons may be treated as supply under the deeming provisions in Schedule I, but the portion represented by interest or discount is exempt. Where no processing fee, administrative charge, service fee, or loan-granting charge is levied and consideration is confined to interest or discount, the transaction is not to be treated as a separate taxable supply of processing, facilitation, or administration services, and GST is not to be levied by resort to open market value. Any additional fee of that nature over and above interest or discount is taxable. en-us Mon, 08 Jul 2024 00:00:00 +0530 Wed, 27 May 2026 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69969 Loans, credit, or advances between related persons may be treated as supply under the deeming provisions in Schedule I, but the portion represented by interest or discount is exempt. Where no processing fee, administrative charge, service fee, or loan-granting charge is levied and consideration is confined to interest or discount, the transaction is not to be treated as a separate taxable supply of processing, facilitation, or administration services, and GST is not to be levied by resort to open market value. Any additional fee of that nature over and above interest or discount is taxable. Circulars GST - States Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69969