CGST Act,2017 section 13, Time of supply of services
Time of supply of services, Section 13 of CGST Act,2017.
Time of supply of services under section 13 of CGST Act,2017.
Section 13 of CGST Act, 2017 explains Time of supply of services as below:

13.(6) The time of supply to the extent it relates to an addition in the value of supply by
way of interest, late fee or penalty for delayed payment of any consideration shall be the date
on which the supplier receives such addition in value.

But this functionality is not thre in D365/AX2012/AX2009 and GST is calculated at the time of raising Debit note or receiving payment and not on the settled amount against the interest debit note at the time of payment posting. As per law this is required as there are many such transactions which may impact the compliance of the company.
Category: Tax
Needs Votes
Ideas Administrator

It is industry specfic requirement and we need more votes to triage it.