M/s Raj Enterprises applied for a loan from State Bank of India against which loan processing fees and interest are charged by the bank.
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2019
M/s Raj Enterprises applied for a loan from State Bank of India against which loan processing fees and interest are charged by the bank.
Answer & Explanation:
The activity of borrowing loan amount for which a consideration in form of processing fee has been charged by State Bank of India shall be considered as supply of service.
Topics: CGST Act, 2017
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