MSME Interest

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34 Points Posted on 20 January 2020
whether interest received from msme is taxable to GST?
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On 20 January 2020 at 15:59 Report
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Quick Summary
This discussion clarifies whether interest received from Micro, Small, and Medium Enterprises (MSMEs) for delayed payments is subject to GST. The consensus is that GST is indeed applicable to such interest income. This means businesses receiving late payment interest from MSMEs need to account for GST on these amounts.

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"Do the Right Thing...!!!"
128162 Points Posted on 20 January 2020
MSME...??
....
...
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On 20 January 2020 at 16:14
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34 Points Posted on 20 January 2020
Sorry

we are name
and we have received payment for delayed consideration
is that interest received by us will be liable for GST
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On 20 January 2020 at 18:48
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"Do the Right Thing...!!!"
128162 Points Posted on 20 January 2020
Yes.... GST applicable for the Interest.
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On 20 January 2020 at 19:14
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34 Points Posted on 20 January 2020
Ok
thank you sir
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On 20 January 2020 at 20:54
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"Do the Right Thing...!!!"
128162 Points Posted on 20 January 2020
You are most welcome...
1 Reply
On 20 January 2020 at 20:55

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