180 Days Credit tobe Reversed
This query is : Resolved
Quick Summary
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..
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..
28 October 2021
No case law supporting. Reverse ITC and claim when you make payment.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- CREDIT NOTES WITHOUT GST
- FORM 141 SDV query
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
