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Gst not deposited by the supplier for the whole year. i.e. from the begining of gst.

361 views 4 replies

Hello Sir,

if a Assessee/supplier claims the GST from us by issuing Bills with GST from July - 17 and has not Deposited it Despite giving many reminders, now he says that he has Surrendered his GST number.

What we should do now as we were regularly claiming it every month. (i.e. from july - 17 to June -18)

Thanks

Rajan Kakkar

98789-14145

Replies (4)

you don't need to worry if you have valid invoice with you which supplier has issued
and
2nd thing you can make grievance on GST Portal against the supplier
3) GST can't be surrendered till now( present) as per Gst office, you can apply it online but it will show pending and you have to file your return.

Pankaj Goswami

CA-FINAL

422 Points Posted on 09 August 2018

you have to reverse the full ITC and need to deposit same with interest and than recover it from vendors.

Rajan Kakkar

10 Points Posted on 09 August 2018

Dear Sir,

Thanks for your reply,

We have to Calculate interest on Monthly basis or annual basis, as we have claimed ITC on Monthly bills.

Pankaj Goswami

CA-FINAL

422 Points Posted on 09 August 2018

interest in late payment @ 18% P.A and will be calculated for no. of days delayed.

in your case it will be calculated seperately for each worng ITC i.e. for each month seperately from the due date of tax payment.