Ushabala Chits Private Limited ., In re
Date: May 5, 2020
Subject Matter
GST applicable on interest/penalty collected by a chit auction company for delay in payment of monthly subscription by the members
Summary
Query: Whether the interest/penalty collected for delay in payment of monthly subscription by the members forms a supply under GST? Answer: Affirmative. In the instant case, having regard to the nature of transaction it cannot be said that the…
1. The present application has been filed under Section 97 of the Central Goods & Services Tax Act, 2017 and Andhra Pradesh Goods & Services (hereinafter referred to as CGST Act and APGST Act respectively) by M/s UshaBala Chits Private Limited, 25-2-12-2, UshaBala Complex, John Street, Narasimharao Pet, Eluru. A.P. (herein after referred to as applicant), registered under the Goods & S…