GST rate on Interest income
Hardik Patel (76 Points)
21 December 2018
Interest income received due to late payment received from customer, so what is GST rate apply?
3 Replies
Sarath Rajendran
(Nil)
(2791 Points)
Replied 21 December 2018
GST rate should be the same as the rate that applies to the goods or services on the invoice.
Fenil Jetpara
(self)
(316 Points)
Replied 21 December 2018
Yes. Agreed, it will be as per the original supply rate.
pritesh
(CA Final student)
(7101 Points)
Replied 21 December 2018
the rate on goods the same rate will be applicable on interest.
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