if interest to be paid for disallow of itc taken, then any gst applicable on interest payment or not.
pl. provide me the answer
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GST applicable on interest payment
Replies (3)
Hi, Koustav Roy,
Interest is to be paid for wrong itc claim. Normally it is 18%, however it may extended to 24% if it is undue or excess claim of ITC. there is no Gst for interest payment.
Interest is to be paid for wrong itc claim. Normally it is 18%, however it may extended to 24% if it is undue or excess claim of ITC. there is no Gst for interest payment.
Interest will be paid on belated payment of tax
No there is no GST on such interest paid.
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