gst on interest payment
This query is : Open
Anita Pangotra
(Querist)
17 September 2017
hlo all, kindly answer whether gst is payable on interest paid for late payments...
Chhatra Singh Dugar
(Expert)
17 September 2017
GST is not applicable on any interest payment.
17 September 2017
@Anita.,
Your query is not cleared....
Explain one more...
Anita Pangotra
(Querist)
17 September 2017
we used to pay interest on late payment of paddy purchase. or rice purchase now in this situation
Arun Kumar Singh
(Expert)
17 September 2017
If you will pay the GST after due date then you need to pay duty along with interest.
Anita Pangotra
(Querist)
17 September 2017
Ok thanks experts...
Anita Pangotra
(Querist)
17 September 2017
thank u experts for this, but pls provide also the section or rules which supports this statement
Vishakha Kejriwal.
(Expert)
18 September 2017
As per Section 50 of CGST Act interest is liable to be paid for delayed payment of tax.
18 September 2017
Yes. I agreed to You Mr. Vishakha kejriwal....
Firstly I think the same way for above said Query. So, I ask it clear.....
Any way thank you for the attend this one...
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST input credit on commercial property
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- Gift to nri relatives residing in usa
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- 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
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
