People also ask

Before the introduction of GST, all credit card services incurred service tax at 15% but now this service tax has been replaced with 18% GST on credit cards.

So how can HDFC converted into term loan and charged me interest and processing fees with IGST. Its not term loan, its a mobile purchase on no cost EMI offered.

IGST stands for Integrated Goods and Services Tax. IGST is one of the three components of Goods and Services Tax. IGS tax is levied when there is an inter-state transfer of goods and services. When GST was introduced by the central government in July 2017, the idea was to subsume all the various indirect taxes into one.

How much GST do you have to pay on credit card EMIs? All credit card services incur GST at 18% . Before the introduction of GST, all credit card services incurred service tax at 15% but now this service tax has been replaced with 18% GST on credit cards.