IGST Penalty
This query is : Resolved
Suresh S. Tejwani
(Querist)
15 September 2024
If we pay IGST RCM Tax , there is liability of penalty or interest on it ??
Dhirajlal Rambhia
(Expert)
19 October 2024
According to Section 125 of the CGST Act, 2017, a penalty of ₹25,000/- can be imposed for non-payment or delayed payment of tax under RCM.
As per Section 50 of the CGST Act, 2017 Interest @ 18% per annum is payable on the delayed payment of tax.
As per Section 50 of the CGST Act, 2017 Interest @ 18% per annum is payable on the delayed payment of tax.
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