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Retention of GST on Retention Money


CA. HEMANT GUPTA (Service)     25 January 2020

CA. HEMANT GUPTA
Service 
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Dear Sir,
while payment to vendors we withhold the specific portion of amount as Retention money as per contract. is in this case also we will have to reverse the tax portion if payment not made within 180 days?

avater

Roshni (Studwnt)     25 January 2020

Roshni
Studwnt 
 66 likes  997 points

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I don't. think so

avater

CA. HEMANT GUPTA (Service)     25 January 2020

CA. HEMANT GUPTA
Service 
 2 likes  59 points

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Please specify the reason.

avater

RAJA P M ("Do the Right Thing...!!!")     25 January 2020

RAJA P M
"Do the Right Thing...!!!" 
 8287 likes  113418 points

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Yes... Will be reversible the tax portion of the payment not paid 180 days. After payment we can utilize the credit...

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