Hi, I want to know if ITC can be claimed by recipient on interest charged on delayed payment of invoices by supplier . i cant find any circular or ruling for the same .. if anyone has any notification please share the details .
eg. if a recipient pays after a certain due date, interest is charged for the same and as we know gst is applicable , and such interest becomes part of value of supply so can i as a recipient claim gst on it .
I have asked this question as one gst Officer says that itc cannot be claimed on such interest , and has asked to prove this point if we want to claim it
CAclubindia
