RCM not deposited

573 views
User Avatar

accountant
461 Points Posted on 16 September 2023
GTA bill booked inJan 23 but forgot to charge RCM.

same RCM liabilities book and paid in Sept 23 .

in this case intrest applicable.
0 Reply Share Follow
On 16 September 2023 at 07:32 Report
Replies (10)
Quick Summary
This discussion addresses a scenario where Reverse Charge Mechanism (RCM) liabilities were booked and paid late. It confirms that interest is applicable in such cases. The calculation method for the interest is provided, involving the RCM amount, the applicable tax rate (though a point of contention regarding 18%), and the number of days the payment was delayed.

User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 16 September 2023
Yes, definitely applicable...
Reply
On 16 September 2023 at 07:59
User Avatar

accountant
461 Points Posted on 16 September 2023
How calculate can you explain
Reply
On 16 September 2023 at 08:03
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 16 September 2023
RCM Rs. XXXXX * 18% / 365 * No of days from Feb 21st...
Reply
On 16 September 2023 at 08:09
User Avatar

Profession
28271 Points Posted on 16 September 2023
Who said 18% ???
Reply
On 16 September 2023 at 12:54
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 16 September 2023
Your question to.........
Reply
On 16 September 2023 at 12:59
User Avatar

Account
408 Points Posted on 17 September 2023

Yes, Interest applicable 

Reply
On 17 September 2023 at 13:37
User Avatar

Profession
28271 Points Posted on 19 September 2023
You do not hv to reply to every question.
raja
Reply
On 19 September 2023 at 06:42
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 19 September 2023
Originally posted by : sabyasachi mukherjee
You do not hv to reply to every question. raja

You just give correct reply, otherwise don't attend queries...

Reply
On 19 September 2023 at 06:46
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 19 September 2023
Originally posted by : sabyasachi mukherjee
Who said 18% ???

You don't know ask a separate question to Experts...

Otherwise go to training classes...

Reply
On 19 September 2023 at 06:47
User Avatar

Profession
28271 Points Posted on 19 September 2023
Maintain some ethics at leat.
Reply
On 19 September 2023 at 10:59

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Criteria to hire an article
  2. Guidence requested for a Finance Professional with
  3. Expert Opinion Required – Form 140 Gross Amo
  4. WRONG TAX DEMAND - formal responses , rectificatio
  5. Foreign remittance
  6. Affordable Residential Flats in Gurgaon
  7. Manufacturing
  8. TAN REGISTRATION ON E-FILLING SITE
  9. Form 10-IEA – Continuing Old Regime
  10. Income tax act 2026

More recent discussions | Post

Related Topics :

Loading