What if I do not return Input Tax Credit claimed even after non payment to that creditor over 180 days.
How would GST Officer know i have not paid to the creditor over 180 days even after claiming ITC.
1 Replies
Raksha
(Student CA Final )
(397 Points)
Replied 02 December 2019
Scrutiny u/s 61 or Summary Assessment U/S 64 or Audit u/s 65/66. These can be trigger point of detail verification where Proper officer can raise the point of ITC reversal of 180 days .. Report of Tax audit can be another trigger point !
Its always better to comply with law and reverse ITC for non payment to creditors for more than 180 days so that to limit interest and penal provisions can be avoided !
Its always better to comply with law and reverse ITC for non payment to creditors for more than 180 days so that to limit interest and penal provisions can be avoided !
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