ITC Reversal for Non Payment to Vendor within 180 days
sanjeev (Accountant) (23 Points)
17 November 2023
Is there any tax benefits to the Vendor w.r.t ITC reversal
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 17 November 2023
No...
It's benefit to GSTIN...
(But, As per this rule vendor can get payment ASAP 😇😇)
It's benefit to GSTIN...
(But, As per this rule vendor can get payment ASAP 😇😇)
Imthias ahamed Kormath
(910 Points)
Replied 19 November 2023
Now Itc reversal is very clear in portel , if buyer not make payment with in 180 days, system reducing itc claimed by the buyer.besides if supplier not paid cash to the government from his part,his buyer not claim itc fully on the grounds of invoice.
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