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19-20 gstr 9 RCM

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kiran

accounts manager

263 Points Posted on 20 February 2021

My client not accounted RCM for whole year 19-20, Now we are declaring in GSTR 9,do we need to pay it in cash in DRC 03.

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Quick Summary

This discussion addresses how to handle Reverse Charge Mechanism (RCM) liabilities that were not accounted for during the 2019-20 financial year. It clarifies that these outstanding amounts must be declared in GSTR 9 and paid using Form DRC-03. The conversation also confirms that interest, at a rate of 18% per annum, is applicable on these delayed payments.