Zero cost emi GST Query

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Deal Newbie
maverickm

Hey guys can anyone tell me how much GST does SBI charge in each instalment in zero cost emi?

My installment breakout is 9887 for 3 months and I am using a friend’s card so I want to know how much more should I pay him so he doesn’t have to bear any cost ?

Please help

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Deal Captain Deal Captain
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Interest discount you received * 18%

Processing charges 99 + 18% GST

Deal Subedar Deal Subedar
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GST is charged @ 18% on Interest amount only 

Deal Newbie Deal Newbie
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EkdamSastaRaju wrote:

GST is charged @ 18% on Interest amount only 

The no cost emi discount i am getting from Flipkart is rs 651 so 118 rs will be the extra charge right?

Deal Subedar Deal Subedar
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maverickm wrote:

The no cost emi discount i am getting from Flipkart is rs 651 so 118 rs will be the extra charge right?

Yes along with Proc fees and its gst 

Deal Newbie Deal Newbie
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EkdamSastaRaju wrote:

Yes along with Proc fees and its gst 

And how much will be the processing fee you have any idea?

Deal Subedar Deal Subedar
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maverickm wrote:

And how much will be the processing fee you have any idea?

Like @7H4NO5 said
Proc fees 
99 + 18% GST


Extra you have to pay 116.82+118 = 234.82/-

Deal Newbie Deal Newbie
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7H4NO5 wrote:

Interest discount you received * 18%

Processing charges 99 + 18% GST

Thank you

Deal Cadet Deal Cadet
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Its ok for Govt to apply GST on processing Fee. But GST on Interest is immoral and beyond comprehension.

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