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  #1  
13th July 2017, 10:52 AM
Md wasimuddin123
 
Join Date: Jul 2017
Posts: 1

Affect of GST on interest rate of Education loan?


Hello sir, I have passed 12th with Science stream and now wanted to study Engineering course so, I need Education loan. Please tell me will GST hike the interest rate of Education loan?




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  #2  
15th July 2017, 09:49 AM
Dadi Maa
Senior Member+
  
Join Date: Aug 2015
Posts: 2,230
Default Re: Affect of GST on interest rate of Education loan?

GST is Goods and Services Tax.

It is revolution in taxation history of India which advocates for One Nation One Tax.

The impact of GST on services is that service will become costlier. Banking services will increase which ultimately can lead to increase in interest rate on education loan.
  #3  
15th July 2017, 02:56 PM
Blessmegod
Senior Member+++++
  
Join Date: Apr 2015
Posts: 4,947
Default Re: Affect of GST on interest rate of Education loan?

*Interest rate of banks on different loan products like home loan, education loan, vehicle loan is bound to increase a little bit as GST has been implemented.

*Good and Service Tax will increase cost of services and goods cost will decrease because there is 18% GST on services.
Do you have any question? or have anything to say?



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