Sir.... I have taken GTA services in whole f. Y. 17-18. but not pay any tax under reverse charge..... But in March 2018 I want to pay whole tax under reverse charge... Of GTA service.
Can I do that.... N should I liable for interest on tax under reverse charge. And how much.?
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reverse charge payment of GTA SERVICES
Replies (5)
Yes....
If you are not paid the RCM payment for the previous months then You ll be pay Interest in the liability amount....
Rate of Interest @ 18%....
If you are not paid the RCM payment for the previous months then You ll be pay Interest in the liability amount....
Rate of Interest @ 18%....
18% will be annually or monthly or daily basis... Starting from to date of payment..??
18% p.a...
Interest will be calculate from 21st of the month... If payable amount is Rs 1000...
Interest = 1000 * 18% / 365 * (no. of delayed days)
Interest will be calculate from 21st of the month... If payable amount is Rs 1000...
Interest = 1000 * 18% / 365 * (no. of delayed days)
The Interest has to be calculated from the next day on which tax was due @ 18% pa. calculate on day basis
Thanks sir.
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