For F.Y 2019-20, the supplier has not filed their gst returns but we have claimed the ITC , whether we have to pay the liability through DRC-03 with interest while filing GSTR-9 Annual return ?
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ITC CLAIMED BUT SUPPLIER NOT FILED THEIR RETURN
Replies (1)
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Compliance: You cannot legally claim ITC for invoices not appearing in your GSTR-2B.
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Immediate Step: File DRC-03 to reverse the ineligible ITC.
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Interest: Pay 18% interest if you have already utilized the credit against your output tax liability. If it remained unutilized, interest may not be applicable, but reversal is still required.
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Future Prevention: Always verify your GSTR-2B before filing your GSTR-3B. If a supplier fails to file, contact them immediately to resolve the discrepancy rather than claiming the credit upfront.
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