Whether principal has to reverse the input tax credit on inputs which have not been received back from the job worker within 180 days?

Question 19 – Draft-Bills-Reports – Input Tax Credit – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 19 – Q 19. Whether principal has to reverse the input tax credit on inputs which have not been received back from the job worker within 180 days? Ans. Yes, the principal has to reverse the credit along with interest on inputs which have not been received back from job worker within 180 days but he can reclaim the credit on receipt of inputs. – Statutory Provisions, Acts, Rules,

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =