GST on interest subvention income received by DFSI from Mercedes-Benz

In re Daimler Financial Services India Private (GST AAR Tamilnadu)

Whether the interest subvention income received by Daimler Financial Services India Private Limited (DFSI) from Mercedes-Benz India Private Limited (MB India) to reduce the effective interest rate to the final customer is chargeable to GST?

The interest subvention income received by Daimler Financial Services India Private Limited(DFSI) from Mercedes-Benz India Private Limited (MB India) to reduce the effective interest rate to the final customer is chargeable to GST as a supply under SAC 999792 as Other miscellaneous Services , agreeing to do an act, to 9% CGST and 9% SGST as per Si no 35 of Notification No 11 / 2017 Central Tax (Rate) dt. 28.06.2017 as amended are chargeable as per SI no 35 of Notification No. II(2)/CTR/532(d- 14)/ 2017 vide G.O. (Ms) No. 72 dated 29.06.2017 as amended.

FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING TAMIL NADU

Note : Any appeal against the advance ruling order shall be filed before the Tamilnadu State Appellate Authority for Advance Ruling, Chennai under Sub-section (1) of Section 100 of CGST ACT/TNGST Act 2017 within 30 days from the date on which the ruling sought to be appealed against is communicated.

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