AAR : Late-payment charges on brokerage taxable as original/principal supply

Madhya Pradesh AAR rules that additional amount being charged on delayed payment termed as Interest, late fee or penalty on the amount of brokerage and securities charged by a stock broker, cannot be bifurcated; Finds that the additional amount being charged in the form of interest/late fee/ penalty cannot differ from original/principal supply and have its own/different classification; Referring to explanation inserted to Section 2(102) of CGST Act, 2017 w...