GST on Penalty?

CA Ankit Agarwal (CA, CS)     14 November 2019

CA Ankit Agarwal
 62 likes  683 points

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Our company imposed a penalty of Rs.1.5 lakh on a party.
The party deposited the amount in our account.
Who is liable to pay GST on it?

prasad Nilugal (Accountant GST Practitioner . )     14 November 2019

prasad Nilugal
Accountant GST Practitioner .  
 279 likes  4165 points

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penalty  for what ?.  is it  delayed  payment charges  for  Invoice  issued  by you  ?. 

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