Is GST ITC avilable if supplier firm goes to liquidation to NCLT
This query is : Resolved
RATILAL LIMBANI
(Querist)
07 November 2023
dear expert please guide me
"My client purchased goods from ABC Company in FY 2018-19, and the Input Tax Credit (ITC) amount claimed was Rs 7 Lakhs.
However, ABC Company failed to file their GSTR-1 and goes for liquidation to NCLT , I received notice from the tax department demanding the reversal of ITC along with interest."
please guide me how i can defend my client
"My client purchased goods from ABC Company in FY 2018-19, and the Input Tax Credit (ITC) amount claimed was Rs 7 Lakhs.
However, ABC Company failed to file their GSTR-1 and goes for liquidation to NCLT , I received notice from the tax department demanding the reversal of ITC along with interest."
please guide me how i can defend my client
CA R SEETHARAMAN
(Expert)
07 November 2023
Reply to the notice you have fulfilled all the conditions for availing ITC.
1 Paid for the goods received.
2 Received the goods.
3 Having valid tax invoice.
1 Paid for the goods received.
2 Received the goods.
3 Having valid tax invoice.
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