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of <h1>Corrigendum Amends Trade Circular 23/2019: Penal Interest Not Subject to GST Per Notification 1136-F.T.</h1> A corrigendum has been issued to amend Trade Circular No. 23/2019 dated June 28, 2019, regarding the GST implications on penal interest charged in transactions between two entities, Y and a company. The amendment clarifies that the penal interest charged is covered under notification No. 1136-F.T. dated June 28, 2017, and thus not subject to GST. The value of the mobile supply from X to Y remains Rs. 40,000 for GST purposes. Any difficulties in implementing this circular should be reported to the Commissioner.
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