Supplier collect amount form buyer with late payment interest, in this transaction for interest who is liable to pay GST? supplier should collect from buyer and remit to Govt or seller is liable to discharge?
Buyer would be liable to pay tax on interest. Supplier can raise the invoice for interest along with GST so that the same can be collected from the buyer.
An evidence may keep for the liability of buyer.But,buyer may liable to remit gst with interest and penalty ,what amount added on the same goods by him.Cgst Act section62,73,74
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