Home Forum Goods and Services Tax - GST Month 6 2021 2021 (6) This
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Belated payment of GST against RCM - Goods and Services Tax - GSTExtract Dear Experts, During the FY 2017-18 (Aug, Nov and Dec) our liability against RCM, say total ₹ 100/- has been deposited and shown in our Electronic Cash Ledger. Unfortunately, we have not debited/declared the liability while filing the GSTR-3B for the respective months. Finally, we have found the mistake on our own and paid the same on 15.02.2020 at the time of filing GSTR-9C through by DRC-03 and not paid the interest under Sec.50 till today. But we have availed and utilized the ITC as we have assumed that the liability has already been debited to the account of Govt. That means, we have utilized the ITC before making the payment against Rule 36(b) of CGST Rules . Our query is that Can the department demand us to reverse the ITC on the reason of availing before payment of tax to the govt.? Can the department impose equal penalty under Sec.74 on the reason of irregular availment? If we will pay the interest (as it compensatory in character), can the belayed payment of tax be regularized; it means that the belated payment be treated as in time payment? Please clarify.
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