akshay vaidmutha (bcom) (307 Points)
15 March 2019
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 15 March 2019
purchaser has to reverse the input of such invoice in the return
and pay interest @ 18% in excess input taken in gstr_9
akshay vaidmutha
(bcom)
(307 Points)
Replied 15 March 2019
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 15 March 2019
Please refer section 16(2) of CGST Act, ITC eligible subject to the following conditions:
1. Possession of tax invoice/debit note
2. Receipt of goods/services
3. Payment of tax charged on such supply to appropriate government
4. Furnishing of GST return by the vendor
It is the responsibility of both parties.
akshay vaidmutha
(bcom)
(307 Points)
Replied 15 March 2019
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 15 March 2019
venkata krishna reddy
(chartered accountant)
(792 Points)
Replied 15 March 2019
| Originally posted by : Pankaj Rawat | ||
 |
As per Section 155 , If supplier do not deposit the tax The Recepient is liable to deposit the same with Interest |  |
ok sir thanks
pritesh
(CA Final student)
(7101 Points)
Replied 15 March 2019
CAclubindia
