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GST ON PENAL INTEREST
Is the penal interest charged by supplier for delayed payment assumed to be inclusive of gst for determining the value of supply or whole amountakingt is added it as exclusive of gst?
Replies (2)
Quick Summary
It will be Ex GST only.
As per section 33 of CGST Act , The AMOUNT OF Tax must be prominently mentioned on tax invoice.
So in GST the tax invoice cannot be reused inclusive of GST (Can also refer rule 46)
So in GST the tax invoice cannot be reused inclusive of GST (Can also refer rule 46)
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