Msme interest received

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11
58 Points Posted on 12 May 2021
What will be the HSN code for msme interest received?
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On 12 May 2021 at 11:53 Report
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Quick Summary
This discussion explores the correct HSN code for interest received from MSMEs due to delayed payments. Participants debated whether it falls under GST and suggested the HSN code would align with the goods sold. The consensus leans towards this interest being outside the scope of GST, negating the need for a SAC code.

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CMA
13117 Points Posted on 12 May 2021
What do you mean by MSME interest?
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On 12 May 2021 at 14:03
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11
58 Points Posted on 12 May 2021
Msme interest received upon delayed payment by vendor
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On 12 May 2021 at 14:08
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CMA
13117 Points Posted on 12 May 2021

I think HSN code in this case would be same as the HSN code of the goods sold.

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On 12 May 2021 at 15:26
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QUALIFIED CHARTERED ACCOUNTANT
613 Points Posted on 12 May 2021
Pls note here MSME interest received is out of GST, so requirement of SAC code will not arise here.
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On 12 May 2021 at 23:53
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13 Points Posted on 05 September 2023
Mr.Apurba Chatterjee As you are telling, then sir will share its notification.
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On 05 September 2023 at 09:20

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