Itc rules under gst

This query is : Resolved

Suchita Shivaji More (Querist)
Follow

24 August 2017 What is the time limit for payment to service provider for availing ITC on services?
What if we do not pay and avail ITC in return?

sanjay jha

sanjay jha (Expert)
Follow

24 August 2017 you can get credit only when your return get matched - means the same is matching with service provider with recepient. in case of rcm you must will have to pay till due date otherwise interest @ 18 or 24 % p.a charged . if you are taking any credit without payment of tax then penalty also applicable.
if you are not filling in continue 6 month return your registration may be cancelled .

Suchita Shivaji More

Suchita Shivaji More (Querist)
Follow

26 August 2017 Thank U sir

My another query is if we issue export invoice without Bond and LUT and adjust IGST in GSTR 3B against form TRA 1 what will be the effect?

Please help

Upgrade to CAclubindia Pro. Subscribe Now!