https://www.taxtmi.com/forum/issue?id=112753 Interest charged for late payment of consideration is included in the taxable value of supply and therefore subject to GST; the rate applied to such interest is the same as the rate applicable to the underlying supply. Suppliers should issue a debit note showing the interest and apply GST at the original supply's rate, aggregating interest into the invoice value for tax calculation and reporting. en-us Sun, 03 Sep 2017 15:34:32 +0530 Thu, 23 Jan 2025 15:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=112753 Interest charged for late payment of consideration is included in the taxable value of supply and therefore subject to GST; the rate applied to such interest is the same as the rate applicable to the underlying supply. Suppliers should issue a debit note showing the interest and apply GST at the original supply's rate, aggregating interest into the invoice value for tax calculation and reporting. Discussion-Forum GST Sun, 03 Sep 2017 15:34:32 +0530 https://www.taxtmi.com/forum/issue?id=112753