Hello everyone.
I have a query regarding the Reverse Charge Mechanism (RCM) on rent, which is applicable from October 10, 2024.
For dealers filing quarterly GST returns under the QRMP scheme, my question is: when should the RCM be paid?
The GST portal automatically calculates the monthly QRMP payment when selecting the QRMP option, and generates the corresponding challan. However, this challan does not include RCM payments.
Should we manually add the RCM amount to the monthly challan, or is it better to wait and pay the RCM at the end of the quarter while filing the Quarterly GSTR-3B?
Please advise.
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Clarification on RCM on Rent Payment for QRMP Dealers
Replies (2)
Regarding the Reverse Charge Mechanism (RCM) on rent applicable from October 10, 2024, for dealers filing quarterly GST returns under the QRMP scheme:
The GST portal automatically calculates the monthly QRMP payment when selecting the QRMP option and generates the corresponding challan.
However, this challan does not include RCM payments. You should manually add the RCM amount to the monthly challan.
It is recommended to pay the RCM amount on a monthly basis to avoid any interest or penalties.
Waiting to pay the RCM at the end of the quarter while filing the Quarterly GSTR-3B may attract interest and penalties.
Therefore, it is advisable to pay the RCM amount monthly, along with the QRMP payment, to ensure compliance and avoid any additional liabilities.
Regarding the Reverse Charge Mechanism (RCM) on rent applicable from October 10, 2024, for dealers filing quarterly GST returns under the QRMP scheme:
The GST portal automatically calculates the monthly QRMP payment when selecting the QRMP option and generates the corresponding challan.
However, this challan does not include RCM payments. You should manually add the RCM amount to the monthly challan.
It is recommended to pay the RCM amount on a monthly basis to avoid any interest or penalties.
Waiting to pay the RCM at the end of the quarter while filing the Quarterly GSTR-3B may attract interest and penalties.
Therefore, it is advisable to pay the RCM amount monthly, along with the QRMP payment, to ensure compliance and avoid any additional liabilities.
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