14 September 2021
We sold goods to a party in 2018-2019.The party did not make the payment to us. How can we reverse ITC OF the party? What is the process?
15 September 2021
WE INFORMRD GST OFFICERS ALSO REGARDING NON PAYMENT BUT THEY ARE NOT TAKING ANY ACTION ON BUYER NOR DIRECTING HIM TO REVERSE THE ITC.
15 September 2021
This is not ITC to the supplier. This is a liability of the supplier who paid the GST to the government from his pocket because non receipt of the payment from the customer for the supplies made.
15 September 2021
This is not ITC to the supplier. This is a liability of the supplier who paid the GST to the government from his pocket because non receipt of the payment from the customer for the supplies made.
15 September 2021
I said that you need not to worry about ITC. Since you've already paid GST to the Government and the customer didn't pay within 180 days from the date of invoice, he only has to reverse the ITC. It is your duty to collect the value of supplies including GST from your customer. I hope you're cleared now.
CAclubindia
