09 October 2019
Our co has raised a Debit note for interest on delayed payment by the customers. Please tell the SAC Code applicable on the same. Is it 997119?
09 October 2019
Please refer section 15 (2) (d) of CGST act. The interest or penalty for delayed payment relating to the supply of goods should also be considered in the transaction value. Hence in the debit note HSN code of the product for which supply made to be mentioned.
09 October 2019
Ok...my another query is if credit note is issued for a particular product in Sep19 but sale of that product was made in Aug 19 then how to show this in HSN Summary as negative quantity is not acceptable in this schedule.
CAclubindia
