Is GST reversable ?
Query (Issue) Started By: – DINESH TIWARI Dated:- 25-4-2018 Last Reply Date:- 2-5-2018 Goods and Services Tax – GST
Got 8 Replies
GST
Is GST reversable in case of Payment not received on Supply of Goods/Service within six months.
Reply By KASTURI SETHI:
The Reply:
Relevant extract from C.B.E. & C. Flyer No. 19, dated 1-1-2018
(f) He should pay the supplier the value of the goods or services along with the tax within 180 days from the date of issue of invoice, failing which the amount of credit availed by the recipient would be added to his output tax liability, with interest [rule 2(1) & (2) of ITC Rules]. However, once the amount is paid, the recipient will be entitled to avail the credit again. In case
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