TMI BlogGSt Interest RateX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We availed RCM gst credit Wrongly from Aug-17 to Feb-17 after that we realized RCM credit not available, since we are dealing with Exempted products and repaid the same in the month of Mar- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18 along with Interest at the rate of 18%. Now while filling 9c auditor is asking Interest Rate is 24% instead of 18% Please suggest which rate is correct Thanks Regards, Kiran Kumar - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CA Venkata prasad Pasupuleti - The Reply = Hi Correct rate is 18%. The rate of 24% is applicable for ITC mismatch cases which are not being implemented now deferred. - Reply By KASTURI SETHI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Reply = Interest @24% is applicable only if the elements of suppression of the facts, fraud etc with an intent to evade payment of tax are present. Here you have reversed ITC along with interest 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8% on your own . So no mala fide intention is present in this case. Hence 18% correct de jure. - Reply By kiran kumar - The Reply = Thanks for your Replies - GSt Interest Rate - Query Started ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By: - kiran kumar Dated:- 30-1-2020 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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