Is there GST on the following: Bank Fees, Interest paid on a loan and insurances?

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Is there GST on the following: Bank Fees, Interest paid on a loan and insurances?

2006-09-03 00:23:36 · 2 answers · asked by kellyloader 1 in Business & Finance ➔ Small Business

2 answers

GST is a goods and services tax.....interest and bank fees are neither so no gst would not apply. Insurance is a service and is applicable to gst....hope this helps

2006-09-03 00:26:22 · answer #1 · answered by askaway 6 · 0⤊ 0⤋

I don't think so. But any bank should be able to tell you that relatively quickly.

2006-09-03 00:24:27 · answer #2 · answered by Kitia_98 5 · 0⤊ 0⤋