WHAT ARE THE CONSEQUENCES (INTEREST OR PENALTY OR BOTH) IF RCM WAS NOT PAID BY THE RECEPIENT OF SERVICE?
5 Replies
Imthias ahamed Kormath
(910 Points)
Replied 11 May 2023
No ITC allowed on the furtherence supply of taxable goods from URP.If rcm supply made by TP,he will b try to make cash deposit as gst in the cash ledger,on the basic of rcm taxable value of goods .
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 11 May 2023
No... penalty if you deposit the same voluntary. So pay tax & interest.
sabyasachi mukherjee
(27636 Points)
Replied 12 May 2023
There are certain conditions on which rcm is being paid.
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