GST on Interest Income
This query is : Resolved
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SACHIN RAWAT
(Querist)
31 March 2020
Respected Sir,
In my business private limited company, there was a case under litigation from which (sundry debtor) I received the whole amount with interest . So my question is that should I need to pay GST on interest income earned.
In my business private limited company, there was a case under litigation from which (sundry debtor) I received the whole amount with interest . So my question is that should I need to pay GST on interest income earned.
CA R SEETHARAMAN
(Expert)
01 April 2020
Yes GST payable on such income.
01 April 2020
Yes, GST will be applicable on the interest income
CA Suresh Jain
(Expert)
02 April 2020
Yes, GST is payable on interest received on delayed payment of supply of goods or services.
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