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RCM interest
Delay in payment of RCM attracts interest ?? plz respond...
Replies (9)
yes.. interest @ 18% p.a
Yes, interest is payable @ 18% p.a.
yes it attract at the rate of 18%
yes .......
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yes it attaract
Guys, i think it doesn't attract 18% interest. [2nd proviso of sec 16(2) ] pls clarify.
@ Trek Gaming_67: 2nd proviso of section 16(2) is applicable for payments to be made to Supplier. The 180 days payment condition would not apply to him as the tax is being paid by the recipient himself.
Mr. Shaik question is understood to be a delay of payment of GST liability under RCM to the government. Here interest is liable.
Thank you sir. For clarification.
THE INTEREST OF 18% ON DELAY PAYMENT OF RCM CALCULATED FROM WHICH DATE.
WHETHER FROM THE DATE OF FILING OF GSTR-3B OR FROM THE DATE OF INVOICE DATE.
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