If delay in paying rcm is any interest is applicable?
1. If yes from which date interest is calculated? Actual date of invoice from supplier or self prepared rcm invoice?
2.what is time limit of issuing rcm invoice?
According to Section 50(1) -> You are liable to pay interest
1. 50(2) -> The interest shall be calculated from the day succeeding the day on which such tax was due to be paid (i.e., the due date of the relevant month GSTR-3B).
2. The time limit for issuing RCM invoice: (CGST Act & Rules)
As per Rule 47 -> in the case of the taxable supply of services, the invoice shall be issued within a period of thirty days from the date of the supply of service
As per section 31 -> in the case of the taxable supply of goods, the invoice shall be issued on receipt of goods
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