https://www.taxtmi.com/caselaws?id=290504 The Appellate Authority for Advance Ruling (AAAR) rectified its previous ruling and held that the penal interest charged by the Appellant for delayed EMI payments is exempt from GST under Serial No. 27 of Notification No. 12/2017-Central Tax (Rate). The AAAR applied the Circular No. CBEC-102/21/2019-GST retrospectively, aligning with the Supreme Court's directive on beneficial circulars. This decision provided relief to the Appellant by confirming the exemption of penal interest from GST. en-us Thu, 12 Dec 2019 00:00:00 +0530 Thu, 13 Mar 2025 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290504 The Appellate Authority for Advance Ruling (AAAR) rectified its previous ruling and held that the penal interest charged by the Appellant for delayed EMI payments is exempt from GST under Serial No. 27 of Notification No. 12/2017-Central Tax (Rate). The AAAR applied the Circular No. CBEC-102/21/2019-GST retrospectively, aligning with the Supreme Court's directive on beneficial circulars. This decision provided relief to the Appellant by confirming the exemption of penal interest from GST. Case-Laws GST Thu, 12 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290504