GST Applicability on Lending of money by way of Discounting of LC / Bill of Exchange

By | June 8, 2017
(Last Updated On: June 8, 2017)

Whether GST applies on lending money by way of discounting of LC or discounting of Bill of Exchange or discounting of invoice?

Under exemption list as approved by GST-C (GST Council) , they are exempt only so far as the consideration is represented by way of interest or discount. [ Refer Point No 8 of Exemption list ]

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GST Applicability on Lending of money by way of Discounting of LC / Bill of Exchange

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