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Penalty and interest

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30 Points Posted on 08 January 2020
is income by way of PENALTY and interest taxable under GST?
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On 08 January 2020 at 15:03 Report
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Chartered Accountant
973 Points Posted on 09 January 2020
If that Penalty or interest is on delayed payment for suppy of goods or services, then GST is applicable, as required by Sec 15(2).
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On 09 January 2020 at 00:04
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accountant
25 Points Posted on 09 January 2020

Govt works contractors (Road & Canal work in corporation of chennai )

 
we are  fund recd on 11.4.2019 (as per bill road work  in progress)  from corporation of chennai

but missing Generated  in GT invoice  that particular (Apr'2019)month , i make GST  invoice in 30.11.2019 filed GSTR-1 & GSTR-3B the same month

 
my question is any interest payable or not (fund Date 11.4.2019 but Invoice Dt 30.11.2019)
 
 
 
 
 
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On 09 January 2020 at 12:36


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