Input tax credit claims require documentary proof, while delayed supplier payment triggers reversal, interest and statutory minimum penalties.
Case-Laws
GST
Input tax credit eligibility rests on the claimant, who must substantiate invoices, supplier payment, transport or goods receipt, and supplier ledger evidence. Retrospective cancellation of a supplier's registration alone remains unresolved as a basis for denying credit. Where credit is inadmissible, consequential interest requires quantification by the proper officer. Failure to pay a supplier within 180 days requires reversal or addition of equivalent credit to output tax liability with interest; unavailable FORM GSTR-2 does not remove that liability, and later payment permits re-availment without extending the deadline. Statutory minimum penalties apply separately under Central and State enactments and aggregate under the integrated tax regime.
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