Question31:

Please also mention the HSN code of the interest that will be charged . Is it a service or supply of goods.

Answer

Firstly interest value shall be added to transaction value of supply according to section 15.

Debit note shall be issued for increased amount of such supply due to interest as per section  34. 

Question of change in HSN and Rate of tax does not arise and this will remain same as in original invoice for supply  for which debit note is being  issued (for interest amount). (Reply dt. 06/4/2018)