Belated freight interest

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402 Points Posted on 19 February 2020
whats percent of interest for belated RCM paid on freight whether 18 or 24 percent.
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On 19 February 2020 at 20:58 Report
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This discussion clarifies the applicable interest rate for belated Reverse Charge Mechanism (RCM) payments on freight. The consensus, supported by Section 50 of the CGST Act, confirms that the interest rate is 18%.

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56 Points Posted on 19 February 2020
18% only
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On 19 February 2020 at 23:40
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GST Practitioner
55067 Points Posted on 19 February 2020
As per Section 50 of CGST Act , it's 18%
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On 19 February 2020 at 23:43

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