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TMI BlogImplications of paying RCM using CENVAT CreditX X X X Extracts X X X X X X X X Extracts X X X X ..... It is my understanding that RCM needs to be paid/settled using hard money, cash, and not paid/adjusted using CENVAT Credit. But what are the implications in a situation/scenario where it has already been paid/adjusted using CENVAT Credit. Thank you in advance, Ankush. - Reply By KASTURI SETHI - The Reply = That is an offence and wrongly used ITC and hence will attract interest and penalty. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Deposit now in cash and save interest and intimate the department showing bona fide mistake. The Department may have lenient view if it is proved that you have acted in a bona fide manner. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = RCM payment should be paid only in cash. No credit should be utilized for payment of RCM. If you have paid wrongly pay the amount along with interest and i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nform the same to the Department. - Reply By Alkesh Jani - The Reply = Sir, It is request to please furnish the Authority that RCM is required to be paid in CASH. For my knowledge purpose. with Regards - Reply By KASTURI SETHI - The Reply = Read Section 49(4) with Section 2(82) of CGST Act, 2017 . - Reply By Alkesh Jani - The Reply = Sir, Thanks for the Information. - Implications of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paying RCM using CENVAT Credit - Query Started By: - Ankush Chattopadhyay Dated:- 21-3-2018 Goods and Services Tax - GST - Got 5 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - 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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