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GST applicable on interest payment

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51 Points Posted on 19 June 2020
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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On 19 June 2020 at 20:14 Report
Replies (3)
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article Assistant
1644 Points Posted on 19 June 2020
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.
7 Reply
On 19 June 2020 at 20:24
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4215 Points Posted on 19 June 2020
Interest will be paid on belated payment of tax
12 Reply
On 19 June 2020 at 20:55
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GST Practitioner
55067 Points Posted on 19 June 2020
No there is no GST on such interest paid.
301 Reply
On 19 June 2020 at 22:44


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