GST On Penalty Charges: If your loan EMI is late or credit card payment is late, then a penalty is imposed by the bank and NBFC. For example, if you were charged a penalty of Rs 1000, then you had to pay Rs 180 GST on it. But now this rule has changed. Yes, the … Continue reading GST On Penalty Charges: No GST on penalties of banks and NBFCs, what is this new rule