Sir if a registered person in gst did not file gstr 1 for July to Dec but file gstr 3b and purchaser took input on the basis of invoice than what remedy available to supplier and purchaser in current F. Y and what would be consequences ?
if purchaser is out of gst audit is he liable for interest or penalty ?
If the seller has not filed GSTR1, buyer cannot take ITC, As it not reflected in 2A.
So the buyer have to either reverse the ITC which is not shown by seller and pay interest for it or correct it in the annual returns.
CAclubindia
