Query
One of my client has taken services from last 3 years from xyz company. The said vendor has not filed it's returns from Aug 2017 and deptt has cancelled their gst registration suo moto from aug 2017. However, I have taken all the itc from inception. My query is whether my client has to reverse the said itc...!!?
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Eligibility of ITC
Replies (12)
Yes you have to reverse itc
Thanks Sourav
if said vendor will revoke their GST registration nd then file GSTR 1 then can I able to take said itc now...!??
if said vendor will revoke their GST registration nd then file GSTR 1 then can I able to take said itc now...!??
If you are ready to face the assessment & have proper invoices , make the payment to the supplier , you cannot reverse it !
It's a clear case for litigation of law ...
It's a clear case for litigation of law ...
I have made partly payment till date and client has not followed 180 days time limit in availing of ITC..
Confirm , u satisfied the rules regarding taking the ITC
If someone have reversed itc then he can do so unless he does so.
Yes department will not never allow you take Credit on same & Moreover the Rule 36(4) also restricts.
Yes you can go for appeal.
Yes you can go for appeal.
If the registration is cancelled how can itc be reversed?
Its a wrong perception.
Its a wrong perception.
The registration being cancelled of Supplier & the query being asked in perspective of recipient who have claimed itc on supply from such Supplier who has not filed the return due to which his registration has been cancelled
I do understand that his registration has been cancelled due to non filing of returns.
The purchaser cannot be burdened for the default of the supplier. Cancellation of registration does not mean the supplier has escaped his tax liability. The onus is still with the supplier to comply with the requirements of the law. Therefore the ITC need not be reversed.
kindly read the section 155 of cgst , if supplier do not deposit the tax the burden of same is on Recipient.
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