GST REVERSAL ON ABOVE 180 DAYS
This query is : Resolved
20 December 2022
Dear sir,
If suppler agreed above 180 days payment as per purchase order, in this case also we need to reverse ITC and we have to pay interest na?
Please clarify
If suppler agreed above 180 days payment as per purchase order, in this case also we need to reverse ITC and we have to pay interest na?
Please clarify
21 December 2022
Yes, reversal and interest applicable.
21 December 2022
suppler agreed buyer pay term in order to purchase order after completion of installation of machinary ,it will take 250 days after that only buyer made payment to supplier. This case also we need to reverse na?
21 December 2022
Yes in such a case also reversal required.
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