Recently, there are some advance rulings issued under GST whereby an opinion was formed that Interest income of pure personal nature is ‘supply’ under GST. The AAR Gujrat in case of Shree Sawai Manoharlal Rathi [Advance Ruling No. GUJ/GAAR/R/2020/10, Dated: 19th May, 2020] has held that Interest received from PPF, Interest received from Personal loans …
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