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BAJAJ FINANCE LIMITED
(Authority for Advance Ruling, Maharashtra)

Hon'ble Judges:

PANKAJ KUMAR
B.V.BORHADE
Pet. Counsel
Sandeep Sachdeva
Chaitanya Bhatt
Res. Counsel
Na

Petitioner / Applicant

BAJAJ FINANCE LIMITED
Respondent NA
Court

AAR (Authority for Advance Ruling)

State

Maharashtra

Date Aug 6, 2018
Order No.

GST-ARA-22/2018-19/B-85

Citation

2018(8) TAXREPLY 366
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ORDER

PROCEEDINGS (under section 98 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017) The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGST Act”] by Bajaj Finance Limited, the applicant, seeking an advance ruling in respect of the following questions: i) Whether the Penal Interest is to be treated as interest for the purpose of exemption under Sr. No. 27 of Notification No. 12/2017 Central Tax (Rate) dated 28.06.2017, Sr. No. 27 of Maharashtra State Notification No. 12/2017-State Tax (Rate) dated 29.06.2017, and Sr. No. 28 of Notification No. 9/2017 Integrated Tax (Rate) dated 28.06.2017? ii) If the answer to the above is negative, Whether the activity of collecting penal interest by the Applicant would amount to a taxable supply under the GST regime? At ....

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