Menu
waiver of interest on delayed payment
is gst applicable if as per contract interest was payable on delayed consideration but later on interest was waived?
Replies (3)
GST on interest received from debtors of a business will be applicable. In other words, interest charged and collected by a supplier on a supply has to be included in the transaction value and GST is liable to be paid on the same.
If a supplier decides to waive off the interest which is due from a customer on delayed payment, GST will not be applicable on the interest.
If a supplier decides to waive off the interest which is due from a customer on delayed payment, GST will not be applicable on the interest.
as per which section, gst n/a on waiver?
Sir, can you plz also quote the section
Recent Topics :
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
Related Topics :
CAclubindia
