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.
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