GST on intrest amount

kiran (accountant) (449 Points)

01 May 2022

GST applicable on intrest payment to supplier.

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3 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14901 Points)
Replied 01 May 2022

As section 15(2)(d) of the CGST act 2017 , GST applicable on interest payment to supplier .

Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 01 May 2022

If it is against any deposit , then it's exempted by Notification 12/2017 CT , else in any other case it's taxable.

Satyapriy Chindak (118 Points)
Replied 02 May 2022

Https://play.google.com/store/apps/details?id=com.si.gstcalculator

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