Gst on interest on delay payment to supplier

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ronak mistry (Querist)
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29 April 2019 Hello,

I want to know Rate of GST on Interest on delay payment made to supplier and SAC code to Charge interest debit note ?

CA Anita Bhadra

CA Anita Bhadra (Expert)
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29 April 2019 The GST rate and SAC code applicable will be the same as applicable to the main supply in the Tax Invoice against which interest is being paid for delay in payment

Actually , the interest on delayed payment will be added in supply for valuation purpose

15(2) of CSGT Act,2017 lists out the compulsory inclusions in the value of supply where Section 15(2)(d) mentions – ‘interest or late fee or penalty for delayed payment of any consideration for any supply’.

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