Onus of paying GST on interest when it is paid by the another
I purchased an item from Tata Cliq @ Rs.23990 and my 6 no cost EMIs is 3998 each. The bank paid Tata Cliq 23040 which was charged to my account but I only have to pay 3998 for 6 months. The amount 23990 -23040 = 950 is the interest component for the 6 EMIs. This amount accordingly paid by the Tata Cliq upfront. But the EMI shows an interest component and GST on it is charged on me, while the actual payment of the interest is made bt Tata Cliq. Accordingly the onus of payment of GST must be on Tata Cliq and not on me.
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By PRABIR BASU/
