Exemption for penal interest: interest covered by notification is not subject to GST, taxable supply value remains unchanged. Where additional or penal interest charged on a transaction is covered under Sl. No. 27 of notification No. 12/2017 State Tax (Rate) dated 30.06.2017, that penal interest is not subject to GST; the corrigendum corrects the earlier text that erroneously stated the interest was not covered by the notification, and the taxable value of the underlying supply remains as stated.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for penal interest: interest covered by notification is not subject to GST, taxable supply value remains unchanged.
Where additional or penal interest charged on a transaction is covered under Sl. No. 27 of notification No. 12/2017 State Tax (Rate) dated 30.06.2017, that penal interest is not subject to GST; the corrigendum corrects the earlier text that erroneously stated the interest was not covered by the notification, and the taxable value of the underlying supply remains as stated.
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