https://www.taxtmi.com/forum/issue?id=113503 RCM liabilities must be discharged in cash and not by utilisation of CENVAT/ITC; wrongful use of credit to pay RCM constitutes misuse of input tax credit, attracts interest and penalty, and requires deposit of the tax in cash to regularise the position, with prompt intimation to the tax department potentially leading to leniency where a bona fide mistake is shown. en-us Wed, 21 Mar 2018 13:07:05 +0530 Thu, 23 Jan 2025 15:55:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113503 RCM liabilities must be discharged in cash and not by utilisation of CENVAT/ITC; wrongful use of credit to pay RCM constitutes misuse of input tax credit, attracts interest and penalty, and requires deposit of the tax in cash to regularise the position, with prompt intimation to the tax department potentially leading to leniency where a bona fide mistake is shown. Discussion-Forum GST Wed, 21 Mar 2018 13:07:05 +0530 https://www.taxtmi.com/forum/issue?id=113503