Whether this Interest charged by the supplier of goods liable to GST? At what Rate GST should be charged on Interest on delayed payment? When would the liability to pay GST arise? How should be this shown in GST returns?
Article explains point of taxation under GST in case of Supply of Goods, Under Reverse Charge, Change In Rate When Service Provided Before Change In Effective Tax Rate, Change In Rate When Service Provided After Change In Effective Tax Rate but Invoice issued prior to change or received after change or when payment received before […]
