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180 Days Credit tobe Reversed

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(Querist)
27 October 2021 Hi,

If payment not made with in 180 days to the vendor, where as vendor filed the GST Returns, and the same if showing in GSTR 2B..

My query is whether we have to reverse the ITC, as we have claimed ITC, Auditor is objecting to reverse the ITC

Is there is any case laws supporting..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 October 2021 No case law supporting. Reverse ITC and claim when you make payment.
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
31 October 2021 Yes you will have to reverse it and on making payment you can reclaim ITC. On reversing ITC you will have also have to pay interest.




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