Int.on late payment
Rajkumar Gutti (591 Points)
07 October 2022Due to freight bill is received late
hence we not paid Ram on freight charges . As per point of taxation can we are like to pay interest on late payment.
Rajkumar Gutti (591 Points)
07 October 2022
Rajendra Prasad
(Employee Private)
(1867 Points)
Replied 07 October 2022
Also you won't get input credit as the prescribed time limit for availing ITC has been crossed.
CS Advocate Abhishek Goyal
(M Com FCS LLB M-AIMA )
(13706 Points)
Replied 07 October 2022
yes as per POT (time of supply) you are liable to pay RCM along with interest.
Rajkumar Gutti
(591 Points)
Replied 07 October 2022