Delayed payments from vendors

162 views 1 replies
Topic: Collection of payments from clearing and forwarding agents. The collection of payments from these agents is a tedious process involving months of credit period and rigourous follow ups. The payments are received after 6 months and sometimes even 18 months. I have 2 questions; 1) In such cases would vendors be forced to pay the gst tax? 2) or if the service recepient pays only the gst tax can he continue enjoying the credit period as usual for more than 3 months.
Replies (1)
It is receiver's liability to reverse the ITC and add the proportionate amount in output liability if payment is not made within 180 days, Refer ITC rule Reversal of input tax credit in case of non-payment of consideration


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details