GST ON INT

Is GST is applicable on interest charge on delay payment of purchase consideration by supplier? It should be included in transaction value or not as per section 15.
Replies (3)
Quick Summary
This discussion clarifies whether Goods and Services Tax (GST) is applicable on interest charged for delayed payment of purchase consideration by a supplier. It confirms that such interest is indeed included in the transaction value as per Section 15. Consequently, GST will be charged on this interest at the same rate as that applicable to the goods being supplied.

Yes it will be included in transaction value and gst will be charged on it
If yes at which rate GST will be charged

Same as that of goods being supplied.

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