Hi Experts,
We are paying commission against sale of products to Sale Agent with certain payment recovery terms of payment. If we are not receiving payment on time, we are charging late payment penalty to Sale Agent. Whether charging penalty will liable to GST.
Please brief.
Thanks.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
