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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Corrigendum clarifies additional or penal interest in transactions not subject to GST under Notification No. 12/2017.</h1> The corrigendum to Circular No. 102/21/2019-GST amends the wording in paragraph 5 regarding the treatment of additional or penal interest in transactions between two parties and a company. It clarifies that such interest is covered under notification No. 12/2017-State Tax (Rate) dated 30.06.2017 and is not subject to GST. The value of supply for GST purposes remains Rs. 40,000. Any difficulties in implementing this circular should be reported to the Chief Commissioner of State Tax, Gujarat State.
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