TMI BlogGST on surcharge for delayed paymentX X X X Extracts X X X X X X X X Extracts X X X X ..... If invoices/debit notes are issued for surcharge for delayed payment in telecommunications sector, is GST to be applied on such invoices/debit notes for surcharge? Is the GST on surcharge to be deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted on Billing or on collection? Kindly intimate the provisions of GST Act/Rules in this regard. - Reply By KASTURI SETHI - The Reply = Surcharge is a type of penalty or late fee charged by the supp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lier of service. It must form part of taxable value/transaction value under Section 15 (2)(d) of CGST Act . GST is applicable. - Reply By Himansu Sekhar - The Reply = It will be charged on billi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng. - Reply By RAMESH PRAJAPATI - The Reply = GST is payable on penalty for delayed payment (surcharge in your case) on collection as per section 12(6) as under:- Section 12 ( 6 ) of the CGS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T Act : The time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch the supplier receives such addition in value . - GST on surcharge for delayed payment - Query Started By: - Tax DEPTT Dated:- 29-8-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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