Counter party submit status

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One of our supplier from whom we have bought tiles have gone bankrupt. We have bought some tiles from them and paid GST and completed our payment and we have sold the tiles to a third party. We have all the waybills and invoices from the supplier to show that they have supplied us the good. We have filed the same in GST returns and have taken credit for the same. The Supplier has also accepted the same and counter party submit status in our GST 2B shows that the status as YES. Now since the company from whom we have bought the tiles is bankrupt I am not sure if they have made payment of there GST. Is the fact that counter party submit status is YES, enough for me to take GST Input. This is pertaining to purchase made in October 2017. This was for the first year of roll our of GST and I was reading some where that for the first year of GST roll out, Its enough if supplier has filed it in his returns and is reflecting in our GSTR2. This is the link for the page https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-allows-businesses-to-claim-gst-input-credit-benefit-for-fy18-till-mar-2019/articleshow/67365702.cms?from=mdr.   As its reflecting in my GSTR 2 and is for the first year of GST roll out, Can the input happen with out any hassle

Replies (8)
If there is yes then you claime your credit. there is no role that had he paid GST or not.
Yes... You can claim as per GSTR 2A status is Yes...
Yes... As per GST "Your supplier also paid the liability. Then only it's available ITC"

But, It's not suitable.
So, You can claim as per Original Invoice if You have and it's reflecting in GSTR 2A.
no. the most important thing here is to see if the supplier has paid taxes with respect to the credit you have taken. if he has not paid taxes you would not be able to claim the credit
No problem. You can claim if you have Gst Tax Invoice.
Yes,.... agree with Mr. Raja Ji. can claim ITC if having Tax Invoice & Payment Made.


Note : In case fraud by Supplier , ITC need to be Reverse.
credit can be claimed. but if the supplier who has gone bankrupt and has not paid taxes through gstr3b credit should not be claimed. my personal view. it is very hard to ensure if the supplier has paid it or not. you can claim now but later in assesment they might ask you to reverse and pay along with interest. correct me if i am wrong. thanks in advance

Thank you sir. This was for the first year of roll our of GST and I was reading some where that for the first year of GST roll out, Its enough if supplier has filed it in his returns and is reflecting in our GSTR2. This is the link for the page https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-allows-businesses-to-claim-gst-input-credit-benefit-for-fy18-till-mar-2019/articleshow/67365702.cms?from=mdr.   As its reflecting in my GSTR 2 and is for the first year of GST roll out, Can the input happen with out any hassle

Thank you sir.This was for the first year of roll our of GST and I was reading some where that for the first year of GST roll out, Its enough if supplier has filed it in his returns and is reflecting in our GSTR2. This is the link for the page https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-allows-businesses-to-claim-gst-input-credit-benefit-for-fy18-till-mar-2019/articleshow/67365702.cms?from=mdr.   As its reflecting in my GSTR 2 and is for the first year of GST roll out, Can the input happen with out any hassle


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