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Reverasalof credit if payment is, not made with in six monts, of purchase

ITC / Input 238 views 3 replies
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82 Points Posted on 04 April 2018
Zir i understand that if payment is not made within six months of date of purchased input credit availed to be reversed is it correct
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On 04 April 2018 at 07:10 Report
Replies (3)
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Chartered Accountant
86505 Points Posted on 04 April 2018
Yes you have to reverse same.
814 Reply
On 04 April 2018 at 07:22
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GST Practitioner
55067 Points Posted on 04 April 2018
Yes As per section 16 CGST act, ITC has to reverse if the payment of such bill is not made within 180day
301 Reply
On 04 April 2018 at 08:59
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82 Points Posted on 04 April 2018
Sir, if supllier is paid already, again if it is reversed it becomes douple payment tax government is benefited in which it is correct sir
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On 04 April 2018 at 10:07


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