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HSN Code for INTEREST ON Late PAYMENT

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Dear Sir,

Please let us know the HSN code for Interest on late payment.
Replies (6)
Quick Summary
Discussion on whether HSN code exists for interest on late payment under GST. It was clarified that no specific HSN code is prescribed for interest. Some refer HSN 999794 (tolerating act), but advance rulings are case-specific and not universally binding; expert advice recommended.

No specific HSN code under the GST.

HSN 999794

The Hon'ble Authority ruled that the interest charged for delay in delivery of goods is taxable under Section 9 of the Act, 2017. The said service merits classification under HSN 999794.

Dear Sir,
I got the above information from Google.
can I include the above HSN code in invoice.

In my opinion, Advance ruling ruled are binding only on the specific person involved, not on everyone. The HSN code for 999794 pertains to agreeing to tolerate an act not specify for interest.If you have any doubts, I recommend consulting with an expert for further advice.

In my opinion, Advance ruling ruled are binding only on the specific person involved, not on everyone. The HSN code for 999794 pertains to agreeing to tolerate an act not specify for interest.If you have any doubts, I recommend consulting with an expert for further advice.

Thank you Sir

you are welcome..my pleasure


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