M/s. Sona Bank Limited, a scheduled commercial bank, has furnished the following details for the month of August: Particulars Amount [ in crores]…

Computation of value of taxable outward supply of M/s. Sona Bank Limited for the month of August: Particulars Amount in crores (₹) Housing loan extended to customers [Since money does not constitute goods, extending housing loan is not a supply.] Nil Processing fee collected on sanction of loan [Interest does not include processing fee on sanction of the loan. Hence, the same is taxable.] 20 Commission collected on bank guarantee [Any commission collected over and above interest on loan, advance or deposit are not exempt.] 30 Interest income on credit card issued by the bank [Services by way of extending loans in so far as the consideration is represented by way of interest are exempt from tax. However, interest involved in credit card services is specifically excluded from this exemption entry.] 40 Interest received on housing loan [Services by way of extending loans in so far as the consideration is represented by way of interest are exempt from tax.] Nil Value of taxable outward supply 90