Menu
Interest rate on RCM
The audit officer reported 24%interst rate on RCM basis purchase.Is it 18%.Plz clarify
Replies (2)
Interest will be applicable at 18% if the payment is not done within the due date. It will applicable at 24% assessee claims excess of input tax credit or makes a reduction in the output tax liability.
It is 18%. It has been proposed in the finance bill to reduce interest rate to 18%
Recent Topic
- Reimbursed income
- Bricks Klin
- Compile error in hidden module: Sheet1. (ITR 5 exc
- Is there a way to get refund for 26QB if paid twic
- How Important Is an MBA Course for Career Growth i
- Learn - How to Take Free Scheduled Auto Backup on
- UPi/Banking Remarks
- URGENT CLARIFICATION NEEDED REGARDING SFT- 005, PL
- What is the nature of business for Pranic Healing
- GST Clarification for billing
Related Topics
CAclubindia
