GST query

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This query is : Resolved

nitesh (Querist)

01 November 2017 Hello all, I have a client which has two firms A and B .by mistakes some purchase bills of A are entered in B in July month, input taken accordingly in return. What is solution now? thanks

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

01 November 2017 No solution.... You have to ammend it in next month.... Also you can say your supplier to reject the wrong bill.

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nitesh

nitesh (Querist)

01 November 2017 any penalty will be there

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

01 November 2017 No penalty.... If your tax liability increase you have to pay it with interest....

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nitesh

nitesh (Querist)

01 November 2017 thanks for your help.

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

01 November 2017 Welcome dear. ..... Its my pleasure.........

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

31 October 2026 Firm B must reverse the credit taken on invoices billed to firm A (it is not B's ITC under Sec 16(2)(aa)), via a later GSTR-3B or DRC-03; 18% interest under Sec 50(3) is payable only if that wrong ITC was utilised, i.e. B's credit ledger balance fell below it, and firm A can claim it only within the Sec 16(4) time limit (30 Nov after FY end).

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