GST on interest on late payment

SECTION 2 [33] "continuous supply of services" means a supply of services which is provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding three months with periodic payment obligations and includessupply of such services as the Government may, subject to such conditions, as it may, by notification, specify;



ACCORDING TO THIS SECTION HE CAN NOT CHARGE AS THERE IS NO SERVICE PROVIDED

interest on late payment is chargeable to GST. applicable section is 15(2)(d) of cgst act. GST is payable only on actual receipt of interest as per section 12(6) and 13(6) of cgst act. do reach out to me at fcsrohit @ gmail.com for further clarification.

Thanks

Yes gst is applicable on interest on late payment on payment basis... And goods rate is applicable