banner_ad

Input credit

ITC / Input 169 views 1 replies

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

Read more at: https://www.caclubindia.com/forum/counter-party-submit-status-528064.asp?offset=1

Replies (1)
misconception it is.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details