HSN code of Interest on Late payment
This query is : Resolved
RAJENDER SINGH
(Querist)
02 June 2021
Dear Sir,
please tell us HSN code of Interest on late payment.
please tell us HSN code of Interest on late payment.
Ganeshbabu K
(Expert)
03 June 2021
The HSN Code will be the same as the item HSN code Just mention in the descripttion as interest on late payment
Section 15(d) of CGST Act,2017 clearly states that interest or late fee or penalty for delayed payment of any consideration for any supply is required to be included for valuation purpose.
Section 15(d) of CGST Act,2017 clearly states that interest or late fee or penalty for delayed payment of any consideration for any supply is required to be included for valuation purpose.
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