ONE OF MY CLIENTS PURCHASED GOODS FROM MAIN DEALER, HE HAS NOT PAID PAYMENTS IN DUE DATE NOW THEY WANTS CLOSE THE BUSINESS AND CLEAR ALL DUE BALANCES NOW THE DEALER DEMANDING CLEAR THE BALANCES INCLUDING CREDIT NOTES RAISED BY THEM. FOR THE DELAY IN PAYMENTS THEY HAVE RAISED DEBIT NOTES ALSO.
1.NOW MY DOUBT IS MY CLIENT HAS TO CLEAR THE BALANCES INCLUDING THE CREDIT NOTES RAISED BY DEALER IF YES 2.THEY HAVE TO LESS THE DEBIT NOTES RAISED BY THEM WHILE CLEARING THE DUE PAYMENTS.
3. I HAVE THOUGHT THAT ITC CAN NOT BE CLAIMED IF THEY HAVE NOT CLEARED PAYMENTS IN DUE DATE. SO IN THIS REGARD THEY DEMANDING THE PAYMENTS ALONG WITH CREDIT NOTES BECAUSE THEY HAVE PAID GST ON THAT.
PLEASE CLEAR MY DOUBTS WAITING FOR YOUR SUGGESTIONS
20 June 2024
1 Yes. 2 No, debit notes has to be paid. 3 They might not have paid GST on credit note. It's only a caution to you to make the payment without delay.
CAclubindia
