The ruling in brief
Where appellant, a lender of housing loans, faced demand for GST on loan recoveries but invoked exemption under Notification No. 12/2017-CTR Entry 27 for first time before Tribunal, exemption applied as pure legal plea could be raised at any stage and recovery of loan amounts qualified as exempt service under Entry 27
Where a housing loan lender claimed that receipts treated as taxable supply were actually recoveries of principal from written-off housing loan accounts and supported this with bank records showing deposits and SARFAESI charges, failure by revenue to consider admissible certified evidence warranted remand for production and consideration of such documents for just determination of exemption claim
Provisions considered
Section 11, read with section 9, of Central Goods and Services Tax Act, 2017/Chhattisgarh Goods and Services Tax Act, 2017; Section 11, read with sections 9 and 107, of Central Goods and Services Tax Act, 2017/Chhattisgarh Goods and Services Tax Act, 2017 - Section 4 of Bankers’ Books Evidence Act, 1891
This summary is for general information and is not legal advice. Read the full decision and the applicable law before relying on it.