If we charges cheque returning charges or delay payment charges in the Invoice Then should we charge GST over this amount ? Can we take such charges in the same Invoice which is for sale of material ?
uma shankar khatri (proprietor) (132 Points)
11 December 2017If we charges cheque returning charges or delay payment charges in the Invoice Then should we charge GST over this amount ? Can we take such charges in the same Invoice which is for sale of material ?
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 11 December 2017
Rakesh Sarswath
(Article Student-GST Specialization)
(190 Points)
Replied 11 December 2017
As per section 15 of CGST, Value of supply shall also include the penalty or interest charged from receiver for delay in payment.
Since your case also falls under this specific provision you shall require to include the same in the value of supply of materials/ In other words, GST shall required to be paid on the same.
uma shankar khatri
(proprietor)
(132 Points)
Replied 11 December 2017
Thanks sir, But can we charge such charges in the same invoicei.e which we are preparing for sale of material ?
Rakesh Sarswath
(Article Student-GST Specialization)
(190 Points)
Replied 11 December 2017
Yes we can.
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 11 December 2017
As per my view it's not good or correct...
CAclubindia
