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Late payment

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3 Points Posted on 23 October 2019
GST applicable on late payment made by GST reg. Buyer?
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On 23 October 2019 at 16:46 Report
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GST Practitioner & Accounts
15085 Points Posted on 23 October 2019

Have you  charged  him late fees or interest or penalty  for late payment  ?. 

24 Reply
On 23 October 2019 at 19:18
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3 Points Posted on 23 October 2019
No... I want to learn it.. I am an accountant
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On 23 October 2019 at 19:19
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GST Practitioner & Accounts
15085 Points Posted on 23 October 2019

please  refer section 15 of the CGST act  2017 

24 Reply
On 23 October 2019 at 19:24
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GST Practitioner
55067 Points Posted on 24 October 2019
Haan ji Agar AAP late fee charge kartey ho toh GST applicable hai . but have to deposit the same to govt when you reced the same from buyer (As per section 12(6))

Kindly Refer Section 15(2)(d)
301 Reply
On 24 October 2019 at 00:22
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Professional
918 Points Posted on 24 October 2019
Yes GST is leviable on late payment fees in the month in which you actually receive it..
7 Reply
On 24 October 2019 at 00:24


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