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late deposit of gst
vendor deposited gst late in Mar 2018 instead of Jan 2018 against gst invoice dt 22/12/2017 for rs 399000. PL clarify whether ITC will be available for full amount rs 399000.
Replies (6)
ITC should be available for full amount. But for late deposit of GST interest would be chargeable @ 18%.
we are client. vendor raised gst invoice in December 2017.GST payment was made in December 2017 to vendor by client.
vendor deposited GST and GST Portal in Mar 2018. please clarify whether any penalty is payable by vendor.
vendor deposited GST and GST Portal in Mar 2018. please clarify whether any penalty is payable by vendor.
| Originally posted by : Vinod Kakkar | ||
 |
vendor deposited gst late in Mar 2018 instead of Jan 2018 against gst invoice dt 22/12/2017 for rs 399000. PL clarify whether ITC will be available for full amount rs 399000. |  |
Yes
You can take fully ITC benefit.
we are client. vendor raised gst invoice in December 2017.GST payment was made in December 2017 to vendor by client.
vendor deposited GST and GST Portal in Mar 2018. please clarify whether any penalty is payable by vendor.
vendor deposited GST and GST Portal in Mar 2018. please clarify whether any penalty is payable by vendor.
Yes interest is payable by the vendor, and you can claim full ITC.
Yes, ITC can be claimed. Interest would be charged for late deposit.
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