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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

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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