GSTR 1 and 3B

This query is : Open

Devraj Dhwiti (Querist)
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07 December 2019 Dear Sir,

If a company (ABC Pvt Ltd) has claimed ITC on a valid invoice copy in the month of April 2019 but the (XYZ Pvt Ltd) supplier has not filed the GSTR 1 till June 2019.

What shall ABC Pvt Ltd do in this case??? Please advise...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 December 2019 Wait for 6 months and reverse ITC

Devraj Dhwiti

Devraj Dhwiti (Querist)
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07 December 2019 Sir,
If the ABC has taken ITC for FY 18-19 but XYZ has failed to file the GSTR 1 till date. then what shall ABC do???

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 December 2019 Reverse ITC and pay with interest if applicable.

Devraj Dhwiti

Devraj Dhwiti (Querist)
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07 December 2019 Yes , Sir.
Please confirm whether ABC needs to pay interest also because it is a bonafide transaction. Company has all evidence viz invoice, email, etc

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 December 2019 Interest not payable if credit not utilized for payment

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Devraj Dhwiti

Devraj Dhwiti (Querist)
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10 December 2019 Thank you very much Sir...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 December 2019 Welcome............................

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Devraj Dhwiti

Devraj Dhwiti (Querist)
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21 December 2019 Hi Sir, Please check and confirm whether any changes required or any mistake is there.

Format Section reference
Tax Invoice (Under Rule 46 of CGST Rules 2017 & Sec 31(1) of CGST Act 2017)
Bill of Supply (Under Rule 49 of CGST Rules 2017 & Sec 31(3)(c) of CGST Act 2017)
Credit Note (Under Rule 53 of CGST Rules 2017 & Sec 34(1) of CGST Act 2017)
Debit Note (Under Rule 53 of CGST Rules 2017 & Sec 34(3) of CGST Act 2017)
Receipt Voucher (Under Rule 50 of CGST Rules 2017 & Sec 31(3)(d) of CGST Act 2017)
Payment Voucher (Under Rule 52 of CGST Rules 2017 & Sec 31(3)(g) of CGST Act 2017)
Refund Voucher (Under Rule 51 of CGST Rules 2017 & Sec 31(3)(e) of CGST Act 2017)
Tax Invoice under RCM (Under Rule 46 of CGST Rules 2017 & Sec 31(1) of CGST Act 2017)

Sir, please provide me the reference Rule No. and Section No. in CGST Act and CGST Rules - under which Credit note and Debit note with reference to Bill of Supply - will be issued?????