Dear Sir,
Please let us know the HSN code for Interest on late payment.
No specific HSN code under the GST.
6 Replies
Venkata Rao Sanumoori
(101 Points)
Replied 30 July 2024
HSN 999794
The Hon'ble Authority ruled that the interest charged for delay in delivery of goods is taxable under Section 9 of the Act, 2017. The said service merits classification under HSN 999794.
Dear Sir,
I got the above information from Google.
can I include the above HSN code in invoice.
The Hon'ble Authority ruled that the interest charged for delay in delivery of goods is taxable under Section 9 of the Act, 2017. The said service merits classification under HSN 999794.
Dear Sir,
I got the above information from Google.
can I include the above HSN code in invoice.
CA Anoop Kumar Sharma
(Accounts Manager)
(2070 Points)
Replied 30 July 2024
In my opinion, Advance ruling ruled are binding only on the specific person involved, not on everyone. The HSN code for 999794 pertains to agreeing to tolerate an act not specify for interest.If you have any doubts, I recommend consulting with an expert for further advice.
CA Anoop Kumar Sharma
(Accounts Manager)
(2070 Points)
Replied 30 July 2024
In my opinion, Advance ruling ruled are binding only on the specific person involved, not on everyone. The HSN code for 999794 pertains to agreeing to tolerate an act not specify for interest.If you have any doubts, I recommend consulting with an expert for further advice.
CA Anoop Kumar Sharma
(Accounts Manager)
(2070 Points)
Replied 30 July 2024
you are welcome..my pleasure
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