can RCM liability be clubbed to all other itc what is the consequences of it.
should we pay interest and penalty
Replies (3)
Quick Summary
This discussion explores the possibility of clubbing Reverse Charge Mechanism (RCM) liability with other Input Tax Credit (ITC). It clarifies that RCM liability must be paid in cash only, and ITC cannot be used for this purpose. Late payment of RCM liability will attract interest and potential penalties.