when MSME receives interest from buyer for delayed payment by him, is GST applicable on such interest portion received by MSME. any notification Rules addressing this issue
Yes GST applicable........
Pradyumna U K
Replied 06 October 2021
is there any particular notification or rule mentioning this
There is no notification but the very definition of service and supply along with definition of business covers it under charging section.
Replied 11 October 2021