we are charging an interest on debtors for their late payments
should we have to charge gst on that interest
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Gst on interest
Replies (2)
As per section 15(2) (d) of the CGST act 2017 The value of supply shall include - Interest or late fees or delayed payments of any consideration for any supply .
please confirm with others also.
But the intetest is charged only if the debtor not made the payment in time like 15 days or 30 days
how can we increase the bill amount at that time
or we should add that interest in our sale amount
how can we increase the bill amount at that time
or we should add that interest in our sale amount
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