RCM

This query is : Resolved

nayab (Querist)
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28 November 2019 Dear Experts
Our company taken services from out of country(Service provider also our group companies). Due to Invoice Delay .We have to pay RCM+Interest amount .
If Interest applicable or not for Group companies RCM Payments
pl suggest

CA Anita Bhadra

CA Anita Bhadra (Expert)
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28 November 2019 You need not to pay Interest for delay in receipt of invoice as time of supply itself will be when your Group company will receive payment or make entry in their books of accounts

- As per sec 13 of CGST Act , - In case of supplies by associated enterprises, where the supplier of service is located outside India, the time of supply shall be the date of entry in the books of accounts of the recipient or the date of payment – whichever is earlier