Goods and Services Tax – Started By: – KIRAN KUMAR – Dated:- 18-11-2017 Last Replied Date:- 22-11-2017 – Dear Sir,Can we adjust the Revers charge input tax credit of previous months for Revers charge payment to current monthThanks & Regards,Kiran Kumar – Reply By Ganeshan Kalyani – The Reply = No, reverse charge liability must be paid in cash. The tax paid under reverse charge can be utilised to pay tax on the outward supply. – Reply By Rajagopalan Ranganathan – The Reply = Sir,Tax under reverse charge is to be paid in cash. ITC available in electronic credit ledger cannot be utilized for this purpose. – Reply By CS SANJAY MALHOTRA – The Reply = Agree with all experts. – Reply By KIRAN KUMAR – The Reply = Thanks for your valuable repli
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have not taken any credit because my final product exempted from tat Now we are selling the bolero's under GST, Requesting you to provide the GST ComplianceThanks & Regards,Kiran Kumar – Reply By Rajagopalan Ranganathan – The Reply = Sir' As per Sl. No. 2 of Notification No. 37/2017-Central Tax (Rate) dated 13.10.2017 motor vehicle falling under Chapter 87 when supplied by a registered person is chargeable to CGST at 65% of central tax applicable otherwise on such goods under Notification No. 1/2017-Central Tax (Rate) dated, 28th June, 2017 provided such supplier had purchased the Motor Vehicle prior to 1st July, 2017 and has not availed input tax credit of central excise duty, Value Added Tax or any other taxes paid on such veh
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