Offset of rcm liability from cash ledger

This query is : Open

SAURABH AGRAWAL (Querist)
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05 November 2017 Dear Colleagues,

If I have shown Rs.10,000/- as my RCM liability in form 3B but as per GSTR-2 my actual liability for RCM is Rs. 12000/-, Whether I will have to pay Interest of Rs.-2000/-. In this case I have sufficient balance in my cash ledger. I need not to remit a separate challan for Rs.-2000/- because i already have that much balance in my cash ledger. My query is whether I will have to pay interest on Rs.2000/-

B Vinay Reddy

B Vinay Reddy (Expert)
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05 November 2017 Yes you have to Pay interest on 2,000 CBEC already clarified that mere balance in Electronic Cash Ledger will not be considered as Tax Payment

SAURABH AGRAWAL

SAURABH AGRAWAL (Querist)
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06 November 2017 Dear Sir, Thank for your reply. I will explain my query with the following example-

I made a payment of Rs- 50,000/- as GST for the month of July-17
As per 3B amy output tax laibilty is Rs,-25000/- and RCM laibilty is Rs,-15000/-, the same is debited from my cash ledger and there is balance of Rs.-10,000/- in my cash ledger, in two times.

While filing GSTR-2 , I came to know that my Actual RCM liability is Rs,-18000/- in place of Rs-15000/-. In this case for addition Rs-3000/-, whether interest will be levied on me?

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