Penalty and interest

is income by way of PENALTY and interest taxable under GST?
Replies (2)
Quick Summary
This discussion explores whether penalties and interest are taxable under GST. It clarifies that GST is applicable to penalties or interest charged for delayed payments on the supply of goods or services, as per Section 15(2). A specific case is presented regarding delayed GST invoicing for road works, raising questions about potential interest payable due to the discrepancy between fund receipt and invoice dates.

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).

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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