Ushabala Chits Private Limited ., In re
- Court:
- Authority for Advance Ruling
- Bench:
- Andhra Pradesh
- Date:
- May 5, 2020
- Type:
- Advance Ruling
- Members:
- D Ramesh, M Sreekanth
Subject
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…
Judgement
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…