No GST is charged on these services. There will also be no GST levied on interest earned on deposits.Loans Will my loans/ mortgage/ auto financing be subject to GST? Payment of principal loan amount and interest (monthly instalment) are not subject to GST. Are there loan-related fees that...
had a significant impact on personal loans. Before GST, personal loans were subject to a service tax of 15%. However, with the introduction of GST, the tax rate increased by 3%, resulting in a total tax of 18%. This means that borrowers now need to consider this higher GST rate when ...
GST is a multi-stage, broad-based, consumption tax charged on the supply of goods and services, as well as on the importation of goods into Malaysia. What is the rate of GST and when will GST be implemented? The current GST rate is prescribed at 6% of the value of the goods and ser...
Loan Tenure Calculator GST Calculator Income Tax Calculator Simple Interest Calculator Frequently Asked Questions What is GSTIN, and why is it important for a company? GSTIN is the goods and service tax identification number. Businesses must register for GST and obtain a GSTIN, a fifteen-digit ...
It is only levied on processing charges and other fees excluding principal and interest payments. Therefore, the overall impact of GST on loans remains minimal, primarily affecting ancillary charges like processing fees and prepayment charges. Car Loans GST is applicable at a rate of 28% on ...
Creditworthiness of loan creditors upheld, interest on unsecured loan allowed based on cited precedents. December 30, 2024 Case Laws Income Tax Customs officials lacked reasonable belief for confiscating imported gold, rendering proceedings invalid under Customs Act. ...
34th GST Meeting: Clarification on GST Tax rate on Real Estate Sector We all know that during the 33rd GST council meeting that took place on the 24th February 2019, numerous reliefs were introduced for the home buyers. With a view to boosting the affordable housing segment in the re...
Government Extends Deadline to opt for Old GST rate on Real Estate The 34th GST council meeting had proposed the new GST rates applicable to the Real estate sector. The government had given approval to the new GST rates on the housing sector and had made them mandatory from 1st April 2019...
You may refer to our article on the ruling here. Conclusion Therefore, taking into consideration the structure of the co-lending arrangement it can be concluded that the differential or higher interest rate retained by the OC shall not be treated as consideration for performing the agreed-upon ...
Simple Interest Calculator calculate the interest earned on a principal amount over a specified period at a fixed interest rate. Discount Calculator: Discount Calculator determines the reduced price of an item after applying a discount percentage to the original price. ...