GST Applicability
This query is : Resolved
30 March 2021
If an organisation is paying Interest to other organisation for the delay payment of any dues as per arbitrators order. whether GST needs to be paid on such Interest component? and GST TDS needs to deduct from the same?
30 March 2021
Section 15(2)(d) of the CGST Act , provides that the “interest or late fee or penalty if any charged for delayed payment of any consideration for any supply , then it shall be included in the value of supply of goods and services and shall be liable to GST.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
