Sir,
wrongly 21- 22 rcm liability not shown in Gstr-3B, now it shown in may-22.
My quary is interest applicable for late payment. Please suggest and where we found this in gst books
Thanks in advance
2 Replies
Imthias ahamed Kormath
(910 Points)
Replied 09 June 2022
If u claimed itc on rcm sale of purchase by this time.The purchase invoices has already been accounted by u in timely.The payment has already been paid by u in government account with ur output tax liability. The interest will be levied on due payment made on rcm supply of goods.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 16 June 2022
You have to pay GST interest on the late payment of RCM.
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