GST amount Hold

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RAMAKRISHNA K (Querist)
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28 December 2019 Dear Experts,
One of the contractor supplied manpower to my company and he submitted bills every month . from Apr-19 to we are hold the GST amount and balance amount paid to contractor. That GST amount we are taken in Input credit from Apr-19 to Nov-19 but contractor not fillied GST Returns from Apr-19 to Nov-19. now he is not supplying manpower.
Can I reverse that ITC in GSTR 3B this month?
what action should be taken in this regards.

Pl give your valuable suggestions

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 December 2019 Yes reverse this month.

RAMAKRISHNA K

RAMAKRISHNA K (Querist)
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30 December 2019 Thank you for your valuable reply and anther one is we are liable to pay GST amount to contractor. so we have to pay any interest or penalty for this one. if GST officer give a notice to him for no return filling then he raise a point for non payment of GST amount from party. now we are going reverse the ITC.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 December 2019 No interest or penalty payable on delayed payment. Interest applicable on reversal if ITC utilized.

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