interest recived

Liable to GST

Sec. 15(2)(d) of the CGST Act, The value of supply shall include interest or late fee or penalty for delayed payment of any consideration for any supply.

But on receipt-basis

Sec. 12(6) of the CGST Act, The time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which the supplier receives such addition in value.

GST applicable as per the  section 15 sub section (d)  of the  CGST act 2017  on late fees or penalty  etc.

GST applicable as per the  section 15 sub section (d)  of the  CGST act 2017  on late fees or penalty  etc.