https://www.taxtmi.com/circulars?id=61693 Clarifies that penal interest included in the consideration for a taxable supply of goods must be included in the value of supply under section 15 and is taxable, whereas penal interest charged by an independent lender qualifies as interest under notification No. 12/2017 and is exempt under Sl. No. 27; fees or charges not meeting the definition of interest remain taxable. en-us Fri, 28 Jun 2019 00:00:00 +0530 Thu, 04 Jul 2019 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61693 Clarifies that penal interest included in the consideration for a taxable supply of goods must be included in the value of supply under section 15 and is taxable, whereas penal interest charged by an independent lender qualifies as interest under notification No. 12/2017 and is exempt under Sl. No. 27; fees or charges not meeting the definition of interest remain taxable. Circulars GST - States Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61693