No GST on notional processing fees on loan to various Gujarat Government entities by GSFS

In re M/s. Gujarat State Financial Services Ltd (GST AAR Gujarat) Question – 1 The Applicant is providing financial assistance in the form of loan to various Government of Gujarat entities, whether all such Gujarat Stated owned entities and GSFS become related persons in GST? Answer: The relationship between Gujarat State Financial Services Ltd. and Government or Government entities is that of related person as defined under Section 15 of Central Goods and Services Tax Act 2017 and Gujarat Goods and Services Tax Act 2017. Question – 2 The Applicant is not charging any processing fees/ any ...