Supply or not - interest/penalty collected for delay in payment ...

Case Laws GST

July 18, 2020

Supply or not - interest/penalty collected for delay in payment of monthly subscription by the members - The additional amount being charged in delay of payment by whatever name called should be classified as principal supply and the classification of the same cannot differ from the original supply. Hence the additional amount charged on delayed payment shall be taxed as per original supply i.e. supply of financial and related services.

View Source

← Previous Next →

Supply or not - interest/penalty collected for delay in payment ...

Case Laws GST

July 18, 2020

You may also like:

Levy of GST - Business or not - Supply or not - common law Principle of Mutuality - Co-operative Housing Society - contribution charges collected by the Appellant from...

Levy of GST - maintenance charges collected by Emerald Court Co-op Housing Society Ltd (CHS) from members of its society - In view of the amended Section 7 of the CGST...

Levy of GST - supply of services - Rotary Club - amount collected as membership subscription and admission fees from members is liable to GST as supply of services

Disallowance u/s 37 of interest paid on delayed payment of additional Customs Duty was challenged, contending that it was not penal in nature but compensation for delay...

Classification of supply - as per the definition of "person" under the GST Act, club/organization and member are distinct entities - the amount collected as membership...

Levy of GST - classification of "Interest" portion of equated installments under Annuities Model - the value of supply shall include interest or late fee or penalty for...

Levy of GST on Resident Welfare Association (RWA) - monthly subscription contribution charged from its members - The intention of the 'housing society' is only for...

Benefit of reduced penalty of 15% u/s 28(5) - Delay in payment of penalty due to Public Holiday - The appellant voluntarily paid the differential BCD and interest upon...

Doctrine of mutuality - Benefit of exemption from GST - As per the provisions of GST Law, the applicant being a registered society, providing services to their members,...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

Default in payment of GST in spite of the fact that amount was deposited in Electronic Cash Ledger (ECL) - delay in filing of GSTR-3B returns - High Court observed that,...

Demand of Interest on account of delay in payment of the penalty - The interest on such penalty being a statutory levy is required to be paid - the petitioner is...

Treatment to be given to the entrance fee received by the assessee from Life Members - AO was wrong in splitting the fee received from life members into capital and...

Levy of GST - Supply of services or not - Principles of mutuality - amount collected as membership subscription fees - The applicant is not liable to pay GST on...

Quick Updates: