GST on delay payment interest

i am suppling goods to customer with 30 days credit but he paid bill in 40 days, so i raise interest debit note for 10 days with Gst as per invoice.
Party had paid interest without Gst (i.e. only interest amount less tds).
should i have to pay Gst with reverse calculation on received interest amount only?
kindly suggest
Replies (5)

Yes if the party is not paying the GST amount, you treat the basic amount as inclusive and discharge tax thereof. 

thanks sir
should i raise debit note in the name of party on basic amount inclusive Gst or it should be as Treated as RCM
Kindly suggest

You have already raised a debit note with basic amount 100+GST 18, but couldn't collect the GST amount form the party. Now you treat the basic amount as inclusive and discharge GST. Nowhere RCM is applicable.

Now my question is why you want to raise a debit note again?

 

sir
i have raised provisional Debit Note to clam interest with Gst. If party pay entire amount will raise the debit note. If not then should i raise debit note to party or ....
kindly suggest

Debit note is required to be raised. Total amount=amount paid by the party. Basic and GST figure, you back calculate and put.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details