GST on compensation and Interest of supply made prior GST regime
This query is : Resolved
RATILAL LIMBANI
(Querist)
06 June 2025
Please suggest me GST applicability on following transaction as per GST Rule and GST Act 2017
I received compensation (Rate Difference ) by Railway Department of supply made in the year 1995 i.e prior GST period of Rs 500000 with Interest Rs 400000. on April 2025
is this fall under U/s 12 Time of supply
I received compensation (Rate Difference ) by Railway Department of supply made in the year 1995 i.e prior GST period of Rs 500000 with Interest Rs 400000. on April 2025
is this fall under U/s 12 Time of supply
CA R SEETHARAMAN
(Expert)
07 June 2025
Any amount found to be payable under the previous law will be treated as arrears of GST and be recovered according to GST provisions.
GST not applicable on interest payment.
GST not applicable on interest payment.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- GSTR9 Annual Return
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
