GSTR 1 and 3B


(Querist)
07 December 2019
Dear Sir,

If a company (ABC Pvt Ltd) has claimed ITC on a valid invoice copy in the month of April 2019 but the (XYZ Pvt Ltd) supplier has not filed the GSTR 1 till June 2019.

What shall ABC Pvt Ltd do in this case??? Please advise...


CA R SEETHARAMAN (Expert)


Click to Talk 07 December 2019
Wait for 6 months and reverse ITC

Raj Yadav (Querist)
07 December 2019
Sir,
If the ABC has taken ITC for FY 18-19 but XYZ has failed to file the GSTR 1 till date. then what shall ABC do???

CA R SEETHARAMAN (Expert)


Click to Talk 07 December 2019
Reverse ITC and pay with interest if applicable.

Raj Yadav (Querist)
07 December 2019
Yes , Sir.
Please confirm whether ABC needs to pay interest also because it is a bonafide transaction. Company has all evidence viz invoice, email, etc

CA R SEETHARAMAN (Expert)


Click to Talk 07 December 2019
Interest not payable if credit not utilized for payment

Raj Yadav (Querist)
10 December 2019
Thank you very much Sir...

CA R SEETHARAMAN (Expert)


Click to Talk 11 December 2019
Welcome............................

Raj Yadav (Querist)
21 December 2019
Hi Sir, Please check and confirm whether any changes required or any mistake is there.

Format Section reference
Tax Invoice (Under Rule 46 of CGST Rules 2017 & Sec 31(1) of CGST Act 2017)
Bill of Supply (Under Rule 49 of CGST Rules 2017 & Sec 31(3)(c) of CGST Act 2017)
Credit Note (Under Rule 53 of CGST Rules 2017 & Sec 34(1) of CGST Act 2017)
Debit Note (Under Rule 53 of CGST Rules 2017 & Sec 34(3) of CGST Act 2017)
Receipt Voucher (Under Rule 50 of CGST Rules 2017 & Sec 31(3)(d) of CGST Act 2017)
Payment Voucher (Under Rule 52 of CGST Rules 2017 & Sec 31(3)(g) of CGST Act 2017)
Refund Voucher (Under Rule 51 of CGST Rules 2017 & Sec 31(3)(e) of CGST Act 2017)
Tax Invoice under RCM (Under Rule 46 of CGST Rules 2017 & Sec 31(1) of CGST Act 2017)

Sir, please provide me the reference Rule No. and Section No. in CGST Act and CGST Rules - under which Credit note and Debit note with reference to Bill of Supply - will be issued?????


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