Interest, dividend, loans, borrowings, profit distribution among partners not taxable under GST :
Supply of money is neither covered in goods nor services.
“Money” means the Indian legal tender or any foreign currency, cheque, promissory note, bill of exchange, letter of credit, draft, pay order, traveller cheque, money order, postal or electronic remittance or any other instrument recognized by the Reserve Bank of India when used as a consideration to settle an obligation or exchange with Indian legal tender of another denomination but shall not include any currency that is held for its
numismatic value – section 2(112) of CGST Act.
Supply of money can cover the following – Interest, dividend, loans, borrowings, profit distribution among partners etc.
Thus, such ‘supply’ will be outside GST net.