GST on interest paid under MSMED Act
Thanuj (Student) (69 Points)
04 June 2018
Is GST applicable on interest paid MSMED act(statutory payment)
4 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 04 June 2018
Yes , In GST interest paid for late payment attract GST
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 05 June 2018
I think GST not applicable...
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 05 June 2018
It's kind of Fee charge by supplier to Recepient in shape of Interest , so as per section 15 CGST Act ,.. its taxable
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