Hy All
we purchased some material from a supplier of Rs 64500... on 18.6.21 untill now he didn't not file his GSTR1
we taken input in same month
would it's attract ITC REVERSAL if he not file his return
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ITC REVERSAL with interest
Replies (1)
You cannot claim ITC if the supplier does not file GSTR-1, as it will not reflect in your GSTR-2B. If you have already claimed it and the supplier fails to pay the corresponding tax in their GSTR-3B by the statutory deadline, you are required to reverse that ITC, or you will be liable for the tax plus 24% annual interest. You can re-claim this credit once the supplier completes their filing and payment.
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