interest recived by sales party in late
paymend form goods gst applicable / not applicable
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Interest received
Replies (16)
GST not applicable...
notification h koi
Not applicable
applicable
sir section ya notificaten no
my ca applicable and sume ca not applicable i am canfus notification / surcular link send plz
GST is applicable on interest received for late payment from debtors.
kitna peresent%
As per Section 15 (2) (d) of CGST Act, 2017 " the value of supply shall include interest or late fee or penalty for delayed payment of any consideration for any supply." Therefore any interest collected on late payment received towards sales is liable to GST.
Pl refer to section 15(2)(b) of CGST Act. You will get your answer.
GST rate applicable on interest received is product GST Rate.
gst rs sir
Dear Sir/Madam,
We are applying new registration under GST, I got a massage to my number yours GST registration successfully completed user id and password sent to your registered mail but till we are not receiving user id and password to my mail. Please give me your valuable information as earliest possible.
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