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
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GST implications MSME interest
Replies (4)
Yes GST applicable........
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.
Payment for delayed consideration is taxable.
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