Partner - Audit & Assistance
4825 Points
Posted on 20 July 2021
| Originally posted by : Chartered Accountants ASPIRANT |
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Only that interest which is having the bearance on loans, advances or deposits is Exempt service.. Interest on delayed consideration payment will be taxable by issuing debit notes as it is after supply. |
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Agree with the above. Also time of supply against such interest is upon receipt of the amount and not supply of goods/services.