GST on interest amount receivable on fixed annual instalments

In re Andhra Pradesh Industrial Infrastructure Corporation Ltd. (GST AAR Andhra Pradesh) Whether the interest amount receivable on the annual instalments fixed by the applicant is liable to GST or not. As seen from the application, it is clear that APIIC allots the land to the SC/ST/BC entrepreneurs by collecting 25% of the land cost from the entrepreneurs at the time of allotment of land, while the remaining 75% of the land cost will be collected from the entrepreneur in 8 equal annual instalments @ 16% p.a rate of interest duly providing 2 years moratorium period. The entire interest income ...