{"id":74582,"date":"2025-12-13T08:28:29","date_gmt":"2025-12-13T02:58:29","guid":{"rendered":""},"modified":"2025-12-13T08:28:29","modified_gmt":"2025-12-13T02:58:29","slug":"gst-on-chit-funds-only-foreman-commission-taxable-interest-and-penalties-on-subscriber-defaults-treated-as-exempt-loans","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=74582","title":{"rendered":"GST on chit funds: Only foreman commission taxable; interest and penalties on subscriber defaults treated as exempt loans"},"content":{"rendered":"<p>GST on chit funds: Only foreman commission taxable; interest and penalties on subscriber defaults treated as exempt loans<br \/>Case-Laws<br \/>GST<br \/>HC held that while remuneration\/commission up to 7% of the gross chit amount received by the foreman is taxable under GST as per Section 21(b) of the Chit Funds Act, 1982, interest and penalty recovered from defaulting subscribers under Section 21(c) are of a different character. Relying on the characterization of chit amounts as loans recoverable as de<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/highlights?id=95023\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST on chit funds: Only foreman commission taxable; interest and penalties on subscriber defaults treated as exempt loansCase-LawsGSTHC held that while remuneration\/commission up to 7% of the gross chit amount received by the foreman is taxable under GST <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-74582","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/74582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=74582"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/74582\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=74582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=74582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=74582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}