The Mobile Wallet Pvt Ltd ., In re
Date: January 16, 2019
Subject Matter
Is the Merchant Discount Rate received by the issuing Bank as 'Interchange Fee' liable to tax under the Goods and Services Tax?
Summary
The Mobile Wallet Pvt. Ltd., the applicant, sought an advance ruling in respect of the following questions: 1) Whether the portion of the Merchant Discount Rate received by the issuing Bank as ‘Interchange Fee’ is liabl…
1. The present application has been filed under section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to “the CGST Act and MGST Act”] by The Mobile Wallet Pvt. Ltd., the applicant, seeking an advance ruling in respect of the following questions: 1) Whether the portion of the Merchant Discount Rate &nb…