I am liable to pay tax under RCM but I didn't pay the same on due date.
what will be consequences ????
Now consider in your 3B and pay with Interest.
6 Replies
CA Nagaraju
(Chartered Accountant)
(33 Points)
Replied 21 December 2018
you should the amount next Month along with interest @ 18%PA
CA Nagaraju
(Chartered Accountant)
(33 Points)
Replied 21 December 2018
Interest will be applicable at the rate of 18% if the payment is not done within the due date
A rate of 24% interest will be applicable in the case when a taxpayer claims excess of input tax credit or makes a reduction in the output tax liability
A rate of 24% interest will be applicable in the case when a taxpayer claims excess of input tax credit or makes a reduction in the output tax liability
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