TaxTMI 
TaxTMI 
GST Paid whether allowed as expenses
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST Paid whether allowed as expenses<br> Query (Issue) Started By: - Mihir Modak Dated:- 19-8-2025 Last Reply Date:- 20-8-2025 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>GST is paid under ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....GST Interest and Penalty Waiver Scheme before 31.03.2025. The application for waiver is made after March and Order is received post March 2025. Can GST paid be claimed as expenses of FY 2024-2025 ? Or....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... the same will be allowed in FY 2025-2026 when the order is passed. Reply By Sadanand Bulbule: The Reply: In this situation, it has to be recognised as expenses [GST itself is not an expense, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....if ITC is available] for FY 2024-25, the year of actual payment. Even if the waiver order passed in FY 2025-26, it has no relevance for this purpose. Reply By Ganeshan Kalyani: The Reply: In my ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....view, the interest or penalty paid is not allowed as an expense as per Income tax law. Reply By Harshaditya Kabra: The Reply: When GST is paid under the GST Interest and Penalty Waiver Scheme before....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 31.03.2025, that payment is considered to be made in FY 2024-25 (ending March 31, 2025), even if your application for the waiver is submitted after March and the waiver order is received in FY 2025-2....
X X X X Extracts X X X X
X X X X Extracts X X X X
....6. The critical factor is the date of actual payment of the GST dues, not the date of waiver order<br> Discussion Forum - Knowledge Sharing ....