I SUPPLIED GOODS TO ONE PARTY IN AUG 2017 AND PAYMENT NOT RECEIVED TILL DATE. THE CASE IS FILED IN THE LOCAL COURT FOR CHEQUE DISHONOR. SHOULD I RAISE CN FOR ITC REVERSAL NOW? WHAT TO DO IN THIS SITUATION. PLEASE HELP.
I SUPPLIED GOODS TO ONE PARTY IN AUG 2017 AND PAYMENT NOT RECEIVED TILL DATE. THE CASE IS FILED IN THE LOCAL COURT FOR CHEQUE DISHONOR. SHOULD I RAISE CN FOR ITC REVERSAL NOW? WHAT TO DO IN THIS SITUATION. PLEASE HELP.
GST Credit Note can be issued only till Sept 2018 for invoice dated in FY 2017-18. No relief for seller under GST. However, buyer is liable to reverse ITC along with interest from the date of invoice.
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
T R SOOD & CO
New Delhi
CA Inter
View Details
CAclubindia
