GST on compensation and Interest of supply made prior GST regime
This query is : Resolved
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
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.
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