https://www.taxtmi.com/circulars?id=62329 Clarifies that penal interest levied by a seller on delayed EMI payments must be included in the value of the taxable supply and is subject to GST, whereas penal interest charged by a separate lender in the course of extending loans falls within the exemption for interest on loans and is not subject to GST; fees or charges that are not interest remain taxable. en-us Mon, 15 Jul 2019 00:00:00 +0530 Tue, 10 Sep 2019 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62329 Clarifies that penal interest levied by a seller on delayed EMI payments must be included in the value of the taxable supply and is subject to GST, whereas penal interest charged by a separate lender in the course of extending loans falls within the exemption for interest on loans and is not subject to GST; fees or charges that are not interest remain taxable. Circulars GST - States Mon, 15 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62329