https://www.taxtmi.com/circulars?id=62164 Corrigendum to para 5 (Case 2) of Circular No. 74/2019-TNGST clarifies that the additional/penal interest charged between Y and M/s ABC Ltd. is covered under Sl. No. 27 of Notification No. 12/2017-Central Tax (Rate) and the corresponding Tamil Nadu notification, and therefore the penal interest would not be subject to GST; the value of supply of the mobile by X to Y remains Rs. 40,000 for GST levy purposes. en-us Thu, 18 Jul 2019 00:00:00 +0530 Mon, 12 Aug 2019 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62164 Corrigendum to para 5 (Case 2) of Circular No. 74/2019-TNGST clarifies that the additional/penal interest charged between Y and M/s ABC Ltd. is covered under Sl. No. 27 of Notification No. 12/2017-Central Tax (Rate) and the corresponding Tamil Nadu notification, and therefore the penal interest would not be subject to GST; the value of supply of the mobile by X to Y remains Rs. 40,000 for GST levy purposes. Circulars GST - States Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62164