Applicant charges interest from customers for delayed payment. The amount on which interest is charged consists of two components cost of securities and brokerage. Interest charged on cost of securities is exempt under notification no. 12/2017 Central Tax (Rate) dated 28-06-2017 as amended. Then what will be the tax liability on such interest charged from customers?
States/UT
Order No. & Date
MP/AAR/08/2019 Dated 25.06.2019
Order date
25-06-19
Category
97(2) (a), (b) & (e)
Year