GST on interest for late payment of Invoice value

GST on interest for late payment of Invoice value https://www.taxtmi.com/forum/issue?id=117439 Interest charged for late payment is included in the value of the supply under section 15 and therefore is taxed at the same rate as the underlying taxable supply; interest relating to an exempt supply is not subject to GST. en-us Sat, 21 Aug 2021 17:51:31 +0530 Thu, 23 Jan 2025 15:54:28 +0530 TaxTMI RSS Generator GST on interest for late payment of Invoice value https://www.taxtmi.com/forum/issue?id=117439 Interest charged for late payment is included in the value of the supply under section 15 and therefore is taxed at the same rate as the underlying taxable supply; interest relating to an exempt supply is not subject to GST. Discussion-Forum GST Sat, 21 Aug 2021 17:51:31 +0530 https://www.taxtmi.com/forum/issue?id=117439