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
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GST on delay payment interest
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
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
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.
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