Int.on late payment

Ram freight service is availed in F.Y.19 - 20 , consignment note is also in 19- 20 , but freight bill is received in the year F.Y.22-23

Due to freight bill is received late
hence we not paid Ram on freight charges . As per point of taxation can we are like to pay interest on late payment.
Replies (4)
Quick Summary
This discussion concerns a late freight bill received for services rendered in FY19-20, but billed in FY22-23. The core issue is whether interest is payable on the late payment under the Reverse Charge Mechanism (RCM) and Point of Taxation (POT) rules, especially since the input tax credit (ITC) period has likely expired. The lack of a specific amount on the Lorry Receipt (LR) further complicates the matter.

Also you won't get input credit as the prescribed time limit for availing ITC has been crossed.

Pl.read RCM instead of Ram

yes as per POT (time of supply) you are liable to pay RCM along with interest.

But sir , on L.R. freight amt. is not mentioned. Any. mentioned in bill ,& bill is. given in the year 22-23 , service is consumed in 19-20 , L.R is also in 19- 20

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details