SAC Code for Interest Received from Customer on Late Payment
This query is : Resolved
gulafsha KHAN
(Querist)
21 March 2023
Dear Mam/Sir,
What is the SAC Code for Interest Received from Customer on Late Payment?
What is the SAC Code for Interest Received from Customer on Late Payment?
CA R SEETHARAMAN
(Expert)
21 March 2023
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.
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