Cash ledger balance adjustment

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24 Points Posted on 20 November 2023
we have balance in cash ledger adjusted after due date against payment of RCM.
WILL THERE BE INTEREST ON RCM?
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On 20 November 2023 at 22:22 Report
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This discussion explores whether interest is applicable when a cash ledger balance is adjusted after the due date for a Reverse Charge Mechanism (RCM) payment. Participants are seeking clarification on the implications of late RCM payments and if interest will be automatically populated in the subsequent month's filings.

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Accountant
467 Points Posted on 20 November 2023
It will auto populate in next month.
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On 20 November 2023 at 22:44
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32 Points Posted on 21 November 2023

Hey everyone, just stumbled upon an interesting discussion about cash ledger balance adjustments in GST. It seems there's some confusion about whether interest applies to RCM payments made after the due date. What are your thoughts?

 

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On 21 November 2023 at 14:14
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24 Points Posted on 01 December 2023
Yes

is interest applied ?
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On 01 December 2023 at 21:03

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